India New Issue-Five-star Business Finance to issue 4-year bonds, bankers say

Five-Star Business Finance

16/04/2024 07:44

MUMBAI, April 16 (Reuters) - India's Five-star Business Finance plans to raise 5
billion rupees ($11.98 million) through the sale of bonds maturing in four years, three
bankers said on Tuesday.
    It will pay a coupon of 9.4% and has invited commitment bids for the issue on
Thursday, they said. 
 
 Here is the list of deals reported so far on April 16: 
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Five-star           4 years            9.4               5  April 18     AA- (India
 Business                                                                 Ratings)
 Finance                                                                  
 Axis Finance    3 years and  8.29                      1+3  April 18     AAA (Careedge,
                    4 months                                              India Ratings)
 Total          5 years       13.53          2.8             April 23     BBB- (Crisil)
 Environment                                                              
 Constructions                                                            
 Total          2 years and   0.55           13.53           April 23     BBB- (Crisil)
 Environment    6 months                                                  
 Constructions                                                            
 
*Size includes base plus greenshoe for some issues



($1 = 83.4975 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Janane Venkatraman
)
 ((Bhakti.Tambe@thomsonreuters.com))