India New Issue-Indian Bank accepts bids for 10-yr infra bonds, bankers say

Indian Bank

24/10/2024 08:18

MUMBAI, Oct 24 (Reuters) - Indian Bank  INBA.NS  has accepted bids worth 50 billion
rupees ($594.93 million) for infrastructure bonds maturing in 10 years, three merchant bankers
said on Thursday.
    The state-run lender will pay an annual coupon of 7.12% on this issue and had invited coupon
and commitment bids for the issue earlier in the day, they said.
    The bank did not immediately reply to a Reuters email seeking comment.
    
 
    Here is the list of deals reported so far on Oct. 24: 
                                                                           
 Issuer          Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                              bln rupees)*    date         
                                                                           
 Indian Bank     10 years      7.12           50              Oct. 24      AAA (Crisil,
                                                                           Care)
                 6 years and   7.8750         8               Oct. 23      AAA (Icra,
 NIIF Infra      1 month                                                   Care)
 Finance                                                                   
                                                                           
                 4 years and   To be decided  1+5             Oct. 25      AAA (Icra,
 Aditya Birla    10 months                                                 India Ratings)
 Housing                                                                   
                                                                           
                 3 years and   To be decided  30+40           Oct. 25      AAA (Crisil,
 NABARD          4 months                                                  Icra)
                                                                           
                      5 years  Linked to OIS            6.30  Oct. 25      AA (Icra)
 Aavas                                                                     
 Financiers                                                                
                                                                           
    
 *Size includes base plus greenshoe for some issues



($1 = 84.0430 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))