India New Issue-IRFC sets 7.39% coupon for 10-year bonds, bankers say

Indian Railway Finance

11/07/2024 07:21

MUMBAI, July 11 (Reuters) - Indian Railway Finance Corp (IRFC)  INID.NS  has set a 7.39%
coupon for bonds maturing in 10 years, three bankers said on Thursday.
    The state-run company has accepted bids worth 30 billion rupees ($359.2 million) and had
invited bids from bankers and investors earlier in the day, they said.
    
 
  Here is the list of deals reported so far on July 10: 
                                                                            
 Issuer           Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                               bln rupees)*    date         
                                                                            
 IRFC             10 years      7.39           30              July 11      AAA (Crisil,
                                                                            Icra)
                  15 months     Spread over    10              July 10      AA- (Crisil)
 Vedanta                        1-month OIS                                 
                                                                            
                  10 years      To be decided  3.5+25          July 12      AAA (Crisil)
 Bajaj Housing                                                              
 Finance                                                                    
                                                                            
 *Size includes base plus greenshoe for some issues

($1 = 83.5310 Indian rupees)

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