India New Issue-Fortis Healthcare to issue 5-yr bonds, bankers say

Fortis Healthcare

13/12/2024 06:03

MUMBAI, Dec 13 (Reuters) - India's Fortis Healthcare  FOHE.NS  plans to raise 15.50
billion rupees ($182.71 million) through the sale of floating rate bonds maturing in five years,
three bankers said on Friday. 
    The company has invited bids from bankers and investors for the issue on Tuesday, they said.
    The issuer will sell these bonds at a spread of 192 basis points over the 12-month Mumbai
Interbank Forward Offer Rate (MIFOR) and the coupon will be reset annually. 
    Fortis Healthcare did not immediately reply to a Reuters email seeking comment. 
    
 
  Here is the list of deals reported so far on Dec. 13: 
                                                                                  
 Issuer            Tenure             Coupon (in %)  Issue size (in  Bidding      Rating
                                                     bln rupees)*    date         
                                                                                  
 Fortis            5 years            spread over    15.50           Dec. 17      AA (Crisil)
 Healthcare                           MIFOR                                       
             REC   10 years and 4     To be decided  7+33            Dec. 17      AAA (Crisil,
                   months                                                         Icra, Care)
 REC               15 years           To be decided  5+20            Dec. 17      AAA (Crisil,
 Dec 2039 reissue                                                                 Icra, Care)
             NHB   6 years, 9 months  To be decided  10+30           Dec. 17      AAA (India
                   and 14 days                                                    Ratings, Care)
                   15 years           To be decided  20+26           Dec. 16      AAA (India
 NPCIL                                                                            Ratings)
                                                                                  
                   2 years            7.75           10              Dec. 12      AAA (Icra)
 Sundaram Finance                                                                 
                                                                                  
             L&T   3 years            7.75           5               Dec. 12      AAA (Crisil)
 Finance                                                                          
                                                                                  
                   5 years and 5      7.40           48.64           Dec. 12      AAA (Crisil,
 NABARD            months                                                         Icra)
                                                                                  
             IRFC           10 years           7.09           23.45  Dec. 12      AAA (Crisil,
                                                                                  Icra)
    
 * Size includes base plus greenshoe for some issues


($1 = 84.8360 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))