India New Issue-IndiGrid InvIT to issue multiple-tenor bonds, bankers say
India New Issue-IndiGrid InvIT to issue multiple-tenor bonds, bankers say MUMBAI, Aug 18 (Reuters) - India's IndiGrid Infrastructure Trust IGTR.NS plans to raise upto to 11 billion rupees ($114.97 million) through the sale of bonds maturing in five years and 10 years, three bankers said on Tuesday.
It will pay a coupon of 7.44% on both issues and has invited commitment bids on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 18:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
IndiGrid InvIT | 5 years | 7.44 | 3.5 | August 19 | AAA(Crisil, Icra) |
IndiGrid InvIT | 10 years | 7.44 | 7.5 | August 19 | AAA(Crisil, Icra) |
Tata Capital Housing Finance | 5 years | 7.83 | 10+10 | August 19 | AAA (Crisil, Icra) |
Bajaj Housing Finance | 5 years | To be decided | 7.5+12.5 | August 19 | AAA (Crisil, India Ratings) |
Bajaj Finance April 2036 reissue | 9 years and 8 months | 7.97 (yield) | 5 | August 17 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 95.6750 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Harikrishnan Nair)
((Khushi.malhotra@tr.com, Dharamraj.dhutia@tr.com))
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