India New Issue-IRFC sets 7.44% coupon on 10-year bonds - bankers

Indian Railway Finance

26/02/2024 05:55

MUMBAI, Feb 26 (Reuters) - Indian Railway Finance Corp  INID.NS  (IRFC) has set a coupon
of 7.44% on bonds maturing in 10 years, three bankers said on Monday.
    The state-run company has accepted bids worth 30 billion rupees (nearly $362 million) for
this issue, for which it had invited bids from investors and bankers earlier in the day. 
    
 
 Here is the list of deals reported so far on Feb. 26: 
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      
                                             bln rupees)*    date         Rating
                                                                          
                                                                          
 IRFC           10 years      7.44           30              Feb. 26      AAA
                                                                          (Crisil
                                                                          , Icra)
                5 years       8.65           5+5             Feb. 27      AA+
 Cholamandalam                                                            (Icra)
 Investment                                                               
 and Finance                                                              
                                                                          
                    10 years  To be decided             7.5  Feb. 27      AAA
 SBI Cards and                                                            (Crisil
 Payment                                                                  , Icra)
 Services                                                                 
                                                                          
 
($1 = 82.8890 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)
 ((Bhakti.Tambe@thomsonreuters.com))