India New Issue-IRFC accepts bids for 5-year bonds, bankers say

Indian Railway Finance

29/07/2024 06:54

MUMBAI, July 29 (Reuters) - Indian Railway Finance Corp (IRFC)  INID.NS  has accepted
bids worth 29.60 billion rupees ($353.5 million) for bonds maturing in five years, three bankers
said on Monday.
    The state-run company has set a coupon of 7.37% on this issue. It had invited bids from
bankers and investors for the issue earlier in the day.
    
 Here is the list of deals reported so far on July 29: 
                                                                            
 Issuer           Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                               bln rupees)*    date         
                                                                            
 IRFC             5 years       7.37           29.60           July 29      AAA (Icra,
                                                                            Crisil)
 Cholamandalam    6 years and   To be decided  20              July 30      AA+ (India
 Investment       11 months                                                 Ratings, Icra)
 IIFCL            15 years      To be decided  5+9.75          July 30      AAA (India
                                                                            Ratings)
 *Size includes base plus greenshoe for some issues
 
 ($1 = 83.7290 Indian rupees)

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