India New Issue-Tata Power Renewable Energy accepts bids for multiple-tenor bonds, banker say

Godrej Industries

25/06/2024 11:22

MUMBAI, June 25 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata
Power Co  TTPW.NS , has accepted bids aggregating to 7 billion rupees ($83.92 million) for bonds
maturing in five years and 10 years, respectively, three bankers said on Tuesday.
    The issuer will pay a coupon of 7.93% on both the bond issues and had invited bids for the
same earlier in the day.

    
   Here is the list of deals reported so far on June 25: 
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 Tata Power         5 years       7.93           3.5             June 25      AA+ (India
 Renewable Energy                                                             Ratings)
 Tata Power         10 years      7.93           3.5             June 25      AA+ (India
 Renewable Energy                                                             Ratings)
                    3 year and 6  8.42           5               June 25      AA (Crisil)
 Godrej Industries  months                                                    
                                                                              
             India  12 years      To be decided  2+8             June 27      AAA (Crisil,
 Infradebt                                                                    Icra)
                                                                              
             ONGC   3 years       8.39           1.60            June 25      AA (Crisil,
 Petro additions                                                              Icra)
                                                                              
                    2 years and   To be decided  1.50+6          June 25      AAA (Icra)
 Citicorp Finance   1 month                                                   
                                                                              
             SBI    15 years      To be decided  50+50           June 26      AAA (India
                                                                              Ratings, Icra)
             HDB     3 years and           8.35               5  June 24      AAA (Crisil,
 Financial              3 months                                              Careedge)
 Sept 2027 reissue                                                            
                                                                              
 *Size includes base plus greenshoe for some issues

($1 = 83.4090 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Bhakti.Tambe@thomsonreuters.com))