India New Issue-Indian Bank accepts bids for infrastructure bond issue, bankers say

Indian Bank

12/09/2024 08:15

MUMBAI, Sept 12 (Reuters) - Indian Bank  INBA.NS  has accepted bids worth 50 billion
rupees ($595.6 million) for infrastructure bonds maturing in 10 years, three merchant bankers
said on Thursday.
    The state-run lender has set a coupon of 7.24%. It had invited coupon and commitment bids
for the issue earlier in the day.
 
 Here is the list of deals reported so far on Sept. 12
                                                                         
 Issuer        Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                            bln rupees)*    date         
                                                                         
 Indian Bank   10 years      7.24           50              Sept 12      AAA (Crisil)
 Aditya Birla  2 year and 3           7.86               5  Sept 11      AA+ (Crisil,
 Fashion             months                                              Icra)
 
*Size includes base plus greenshoe for some issues

($1 = 83.9520 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia)
 ((Bhakti.Tambe@thomsonreuters.com))