India New Issue-IRFC accepts bids for 15-year bonds, bankers say

Indian Railway Finance

11/11/2024 06:41

MUMBAI, Nov 11 (Reuters) - Indian Railway Finance Corp (IRFC)  INID.NS  has accepted bids worth 14.15 billion rupees ($167.7 million) for bonds maturing in 15 years, three bankers said on Monday.
The state-run company will pay an annual coupon of 7.15% on this issue and had invited bids from bankers and investors for the issue earlier in the day, the bankers said.
    The company did not immediately reply to a Reuters email seeking comment.
    
    
Here is the list of deals reported so far on Nov. 11: 
                                                     
   Issuer               Coupon     Issue             
            Tenure    (in %)     size (in   Bidding  Rating
                                 bln        date     
                                 rupees)*            
                                                     
 IRFC       15 years  7.15       14.15      Nov. 11  AAA
                                                     (Crisil,
                                                     Icra)
 Cholamand  10 years       8.50         11  Nov. 8   AA+
 alam                                                (Icra)
 Investmen                                           
 t                                                   
     
    *Size includes base plus greenshoe for some issues
     
     
    ($1 = 84.3775 Indian rupees)
     

(Reporting by Dharamraj Dhutia; Editing by Varun H K)
((Dharamraj.dhutia@tr.com))