India New Issue-Bank of Baroda seeks bids for tier-II bonds on Wednesday - bankers

ICRA

16/02/2024 07:52

MUMBAI, Feb 16 (Reuters) - India's Bank of Baroda  BOB.NS  plans to raise up to 25
billion rupees ($301.15 million), including a greenshoe of 15 billion rupees, via tier-II bonds
maturing in 10 years and has invited bids for the same on Wednesday, three bankers said on
Friday.
    The bonds have a call option at the end of the fifth year.
    In December, the lender had raised 25 billion rupees by issuing tier-II bonds maturing in 10
years at a coupon of 7.75%.    
  
 
 Here is the list of deals reported so far on Feb. 16: 
             Issuer                                                             
                         Tenure        Coupon (in %)  Issue size (in            Rating
                                                      bln rupees)*    Bidding   
                                                                      date      
                                                                                
                                                                                
 Bank of Baroda          10 years      To be decided  10+15           Feb. 21   AAA (Crisil,
                                                                                India Ratings)
             REC         3 years and   To be decided  5+25            Feb. 21   AAA (India
                         2 months                                               Ratings, Icra)
 REC                     10 years      To be decided  5+20            Feb. 21   AAA (India
                                                                                Ratings, Icra)
             Tata             3 years  8.10           5+8             Feb. 20   AAA(Crisil,
 Capital Housing                                                                Icra)
 Finance                                                                        
                                                                                
 LIC Housing Finance         10 years  To be decided  12+18           Feb. 20   AAA (Crisil,
 Feb 2034 reissue                                                               Careedge)
             PFC              5 years  To be decided  5+25            Feb. 20   AAA (Crisil,
                         and 2 months                                           Icra)
 PFC                         10 years  To be decided  5+25            Feb. 20   AAA (Crisil,
                                                                                Icra)
             HDB          3 years and         8.2378             1+5  Feb. 16   AAA (Crisil,
 Financial Services          2 months                                           Careedge)
                                                                                
 HDB Financial Services   4 years and  To be decided          1+1.50  Feb. 16   AAA (Crisil,
 Nov 2028 reissue            9 months                                           Careedge)
 
 * Size includes base plus greenshoe for some issues

($1 = 83.0150 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Rashmi Aich)
 ((Bhakti.Tambe@thomsonreuters.com))