India New Issue-HDFC accepts bids for 10-year bonds - bankers

Housing Development Finance

23/05/2023 09:45

MUMBAI, May 23 (Reuters) - India's Housing Development Finance Corp  HDFC.NS  has
accepted bids worth 36.35 billion rupees ($444.49 million) for bonds maturing in 10 years, two
merchant bankers said on Tuesday.
    The housing finance company will pay an annual coupon of 7.65% to investors and had invited
bids from bankers and investors earlier in the day. The issue will have a put option at the end
of three years.


 Issuer              Tenure       Coupon(in  Issue size - base plus       Bidding      Rating
                                  %)         greenshoe (in bln rupees)    date         
 HDFC                10-YR        7.65       36.35                        23-May       AAA
                                                                                       (Crisil)
 Performance         3-yr         To be      5 + 15                       29-May       AA-CE
 Chemiserve                       decided                                              (ICRA)
 Fedbank Financial   6-yr and 11  To be      1 + 1                        25-May       AA (CARE
 Services            months       decided                                              Ratings)
 Shriram Finance -   4-yr and 11  To be      0.25 + 0.75                  24-May       AA+
 reissue             months       decided                                              (Crisil)
 
($1 = 81.7800 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))