India New Issue-HDFC Life Insurance to issue 10-year bonds, bankers say

HDFC Life Insurance

04/10/2024 03:45

MUMBAI, Oct 4 (Reuters) - India's HDFC Life Insurance  HDFL.NS  plans to raise up to 15
billion rupees ($178.7 million), including a greenshoe of 5 billion rupees, by selling bonds
maturing in 10 years, three bankers said on Friday.
    It has invited commitment bids for the issue on Monday, they said.
    The bonds carry a call option at the end of the fifth year and every year thereafter.  
 
 Here is the list of deals reported so far on Oct. 4:
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      
                                         bln rupees)*    date         Rating
                                                                      
                                                                      
 HDFC Life      10 years  8.05                     10+5  Oct. 7       AAA
 Insurance                                                            (Icra)
 *Size includes base plus greenshoe for some issues
 
 ($1 = 83.9560 Indian rupees)

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