India New Issue-HDFC accepts bids of 82.35 bln rupees for bond issue - bankers (updated)

Housing Development Finance

31/05/2023 12:03

(Updates with more information)
       MUMBAI, May 31 (Reuters) - India's Housing Development Finance Corp Ltd  HDFC.NS  has
accepted bids worth 82.35 billion rupees ($996 million) for bonds maturing in two years, three
merchant bankers said on Wednesday.
    The housing financier will pay a coupon of 7.80% on this bond issue for which it had invited
bids earlier in the day.
    ICICI Bank is the sole arranger for the issue that will be settled on Friday. 
    Last week, HDFC raised 36.35 billion rupees via bonds maturing in 10 years at a coupon of
7.65%, which had a put option at the end of three years.

Below is the list of deals reported so far on May 31:
             Issuer                                                                
                         Tenure                 Issue size (in    Bidding       Rating
                                       Coupon    bln rupees)       date            
                                       (in %)                                
                                                                             
                                                                             
        HDFC              2-yr          7.80        82.35         May 31      AAA (ICRA,
                                                                               Crisil)
                      3-yr and 1 mnt      7.75               5     Jun 1      AAA (ICRA)
 Mindspace Business                                                          
     Parks REIT                                                              
                                                                             
  Shriram Finance    9-yr and 5 mnts   To be             1 + 1     Jun 1     AA+ (Crisil)
  Oct 2032 reissue                    decided                                
 
*Size includes base plus greenshoe for some issuances


($1 = 82.7200 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Varun H K)
 ((Bhakti.Tambe@thomsonreuters.com))