India New Issue-Indian Bank to issue 10-year infra bonds, bankers say

Indian Bank

09/09/2024 11:24

MUMBAI, Sept 9 (Reuters) - Indian Bank  INBA.NS  plans to raise 50 billion rupees
($595.7 million), including a greenshoe option of 30 billion rupees, through the sale of
infrastructure bonds maturing in 10 years, three merchant bankers said on Monday.
    The state-run lender has invited coupon and commitment bids for the issue on Thursday, they
said.
    
 
 Here is the list of deals reported so far on Sept. 9
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Indian Bank    10 years      To be decided  20+30           Sept 12      AAA (Crisil)
                10 years      To be decided  10+5            Sept 10      AA+ (Crisil)
 Shriram                                                                  
 Finance                                                                  
                                                                          
                     5 years  To be decided             1+4  Sept 10      AAA (Icra,
 Aditya Birla                                                             India Ratings)
 Housing                                                                  
                                                                          
 *Size includes base plus greenshoe for some issues
 
 
 ($1 = 83.9320 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))