India New Issue-GIC Housing Finance accepts bids for bond issues, bankers say

GIC Housing Finance

21/11/2024 06:42

MUMBAI, Nov 21 (Reuters) - India's GIC Housing Finance  GICH.NS  has accepted bids worth
6 billion rupees ($71.05 million) through the sale of bonds maturing in 19 months and 21 months,
three bankers said on Thursday.
    It will pay an annual coupon of 8.25% and 8.28%, respectively, and had invited bids for the
issue on Tuesday, they said.
    The coupon rate will be increased by 25 basis points for every notch downgrade in the credit
rating.
    The company did not immediately reply to a Reuters email seeking comment.
    
 
  Here is the list of deals reported so far on Nov. 21: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 GIC Housing       19 months     8.25           3               Nov. 19      AA+ (Crisil,
 Finance                                                                     Icra)
 GIC Housing       21 months     8.28           3               Nov. 19      AA+ (Crisil,
 Finance                                                                     Icra)
                   3 years and   7.48 (yield)   36.80           Nov. 21      AAA (Crisil,
 NABARD            3 months                                                  Icra)
 Feb 2028 reissue                                                            
                                                                             
                   4 years       10 (payable    8.50            Nov. 25      C (Acuite
 Century Joint                   quarterly)                                  Ratings)
 Developments                                                                
                                                                             
             LIC    4 years and  To be decided           10+10  Nov. 22      AAA (Crisil,
 Housing              11 months                                              Icra)
 Oct 2029 reissue                                                            
                                                                             
 *Size includes base plus greenshoe for some issues


($1 = 84.4475 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan
)
 ((Dharamraj.dhutia@tr.com))