India New Issue- HDFC accepts bids of 132 bln rupees for 10-year bonds - bankers

Housing Development Finance

12/06/2023 07:27

MUMBAI, June 12 (Reuters) - India's Housing Development Finance Corp (HDFC)  HDFC.NS 
has accepted bids worth 131.87 billion rupees ($1.60 billion) for bonds maturing in 10 years,
three bankers said on Monday.
    The housing financier will pay a coupon of 7.75% on this issue and had invited bids from
investors and bankers earlier in the day. The latest issue comes as HDFC is set to merge with
HDFC Bank in the coming months.
    HDFC has raised around 328.75 billion rupees through bonds in the current financial year so
far. In May, it raised 82.35 billion rupees via bonds maturing in two years at a coupon of
7.80%.

 Below is the list of deals reported so far on June 12:
                                                                        
 Issuer       Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                           bln rupees)*    date         
                                                                        
 HDFC         10-year       7.75           131.87          June 12      AAA (Crisil,
                                                                        India Ratings)
 Indinfravit   16-year and      7.85           13.75         June 13      AAA (ICRA)
 Trust              9 mnts                                              
 
*Size includes base plus greenshoe for some issuances
($1 = 82.4500 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Sonia Cheema)
 ((Bhakti.Tambe@thomsonreuters.com))