India New Issue-Godrej Industries to issue over 3-year bonds, bankers say

Godrej Industries

20/06/2024 11:25

MUMBAI, June 20 (Reuters) - India's Godrej Industries  GODI.NS  plans to raise up to 5
billion rupees ($59.8 million), including a greenshoe of 2.5 billion rupees, through bonds
maturing in three years and six months, two bankers said on Thursday.
    The company will pay a coupon of 8.42% on these bonds and is likely to invite bids for the
issue next week.
    In February, Godrej Industries had raised 10 billion rupees via bonds maturing in two years
and six months, and another in three years and six months.
    
  Here is the list of deals reported so far on June 20: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 Godrej            3 year and 6  8.42           2.5+2.5         To be        AA (Crisil)
 Industries        months                                       decided      
 HDB Financial     1 year and 9  8.35 (yield)   15              June 19      AAA (Crisil,
 Apr 2026 reissue  months                                                    Careedge)
                   10 years      To be decided  20              To be        AAA (Careedge
 Canara Bank                                                    decided      Ratings)
                                                                             
             LIC   4 years and   To be decided  7.5+10          June 21      AAA (Crisil)
 Housing           11 months                                                 
 May 2029 reissue                                                            
                                                                             
                   2 years and   7.87           3.5+3           June 21      AAA (Crisil,
 India Grid Trust  8 months      (quarterly)                                 Icra)
                                                                             
                   3 years       To be decided  5               June 20      AAA (Icra)
 Kotak Mahindra                                                              
 Prime                                                                       
                                                                             
             NIIF   5 years and           8.07               5  June 20      AAA (Icra,
 Infra Finance         2 months                                              Careedge)
                                                                             
 *Size includes base plus greenshoe for some issues 

($1 = 83.5982 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Savio D'Souza)
 ((Bhakti.Tambe@thomsonreuters.com))