India New Issue-HUDCO to issue 10-year bonds, bankers say

Housing and Urban Development

19/09/2024 11:50

MUMBAI, Sept 19 (Reuters) - India's Housing and Urban Development Corp (HUDCO)  HUDC.NS 
plans to raise up to 20 billion rupees ($239 million), including a greenshoe option of 15
billion rupees, through the sale of bonds maturing in 10 years, three bankers said on Thursday.
    The company has invited coupon and commitment bids from bankers and investors on Monday,
they said.
     
    Here is the list of deals reported so far on Sept. 19
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 HUDCO             10 years      To be decided  5+15            Sept. 23     AAA (India
                                                                             Ratings)
                   9 years and   To be decided  5+25            Sept. 19     AAA (Crisil)
 Bajaj Finance     8 months                                                  
 reissue of May                                                              
 2034 bonds                                                                  
                                                                             
 Bajaj Finance     4 years and   To be decided  5+25            Sept. 19     AAA (Crisil)
 reissue of July   10 months                                                 
 2029 bonds                                                                  
             Tata  5 years       7.86           7.5+2.5         Sept. 20     AAA (Crisil)
 Capital Housing                                                             
 Finance                                                                     
                                                                             
             NIIF  5 years and   7.99 (yield)   8.35            Sept. 17     AAA (ICRA,
 Infra Fin Nov     2 months                                                  Careedge)
 2029 reissue                                                                
                                                                             
 NIIF Infra Fin    9 years and   7.96 (yield)   6               Sept. 17     AAA (ICRA,
 Jan 2034 reissue  4 months                                                  Careedge)
             Tata  10 years      7.85           10              Sept. 17     AA+ (India
 Power Renewable                                                             Ratings)
 Energy                                                                      
                                                                             
             LIC   6 years and   7.65           16.25           Sept. 18     AAA (Crisil,
 Housing Finance   11 months                                                 CareEdge)
                                                                             
 
    *Size includes base plus greenshoe for some issues

($1 = 83.6640 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sumana Nandy)
 ((Bhakti.Tambe@thomsonreuters.com))