India New Issue-REC accepts bids for multiple-tenor bonds, bankers say

ICRA

16/07/2024 08:58

MUMBAI, July 16 (Reuters) - India's REC  RECM.NS  has accepted bids aggregating to 60
billion rupees ($717.79 million) for bonds maturing in three years and one month, and in 11
years and one month, three bankers said on Tuesday.
    The state-run company had invited coupon and commitment bids from bankers and investors
earlier in the day.
         
 Here is the list of deals reported so far on July 16: 
             Issuer                                                              
                       Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                    bln rupees)*    date         
                                                                                 
 REC                   11 years and  7.45           30              July 16      AAA (Icra)
                       1 month                                                   
 REC                   3 years and   7.56           30              July 16      AAA (Icra)
                       1 month                                                   
 Tata Capital Housing  2 years and   8.03% (yield)  1.50            July 15      AAA (Crisil,
 Sep 2026 reissue      2 months                                                  Icra)
 Tata Capital Housing  3 years and   8.03% (yield)  1.90            July 15      AAA (Crisil,
 Nov 2027 reissue      4 months                                                  Icra)
 
*Size includes base plus greenshoe for some issues


($1 = 83.5900 Indian rupees)

 (Reporting by Bhaki Tambe and Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))