India New Issue-Five-Star Business Finance accepts bids for 4-yr bonds, bankers say

Five-Star Business Finance

19/04/2024 09:59

MUMBAI, April 19 (Reuters) - India's Five-Star Business Finance has accepted bids worth
5 billion rupees ($59.87 million) for bonds maturing in four years, three bankers said on
Friday.
    It will pay a coupon of 9.40% and had invited commitment bids for the issue on Thursday,
they said.

    
 
 Here is the list of deals reported so far on April 19:
             Issuer                                                              
                        Tenure         Coupon (in %)  Issue size (in    Bidding  Rating
                                                      bln rupees)*    date       
                                                                                 
 Five-star Business     4 years        9.40           5               April 18   AA- (India
 Finance                                                                         Ratings)
             Bajaj      2 years and 1  To be decided  5+10            April 22   AAA (Crisil)
 Housing Finance May    month                                                    
 2026 reissue                                                                    
                                                                                 
 HDB Financial          1 year and 1   To be decided  15              April 19   AAA (Crisil)
 May 2025 reissue       month                                                    
             IIFCL      15 years       To be decided  5+15            April 23   AAA (Icra,
                                                                                 India Ratings)
 
*Size includes base plus greenshoe for some issues



($1 = 83.5175 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
 ((Dharamraj.dhutia@tr.com))