India New Issue-IRFC accepts bids for 10-year bonds - bankers

Indian Railway Finance

14/02/2024 05:54

MUMBAI, Feb 14 (Reuters) - Indian Railway Finance Corp (IRFC)  INID.NS  has accepted
bids worth 30 billion rupees ($361.09 million) for bonds maturing in 10 years, three bankers
said on Wednesday.
    The state-run company will pay an annual coupon of 7.48% on this issue, and had invited bids
from bankers and investors earlier in the day, they said.
    In January, IRFC raised 25 billion rupees via bonds maturing in five years and three months
at a coupon of 7.57%.
    
 
  Here is the list of deals reported so far on Feb. 14: 
                                                                         
 Issuer          Tenure        Coupon (in %)  Issue size (in    Bidding  Rating
                                              bln rupees)*    date       
                                                                         
 IRFC                10 years  7.48           30              FEB. 14    AAA (Crisil,
                                                                         Icra)
 Bajaj Housing        2 years  To be decided            10+5  Feb. 15    AAA (Crisil)
 Finance                                                                 
 Aditya Birla         5 years  8.16                     1.75  Feb. 13    AAA (Icra,
 Finance                                                                 India Ratings
 
* Size includes base plus greenshoe for some issues


   ($1 = 83.0820 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Sherry Jacob-Phillips
)
 ((Dharamraj.dhutia@tr.com))