India New Issue-IRFC sets 7.57% coupon on over 5-year bonds - bankers

Indian Railway Finance

16/01/2024 06:11

MUMBAI, Jan 16 (Reuters) - Indian Railway Finance Corp  INID.NS  (IRFC) has set a coupon
of 7.57% on bonds maturing in five years and three months, three bankers said on Tuesday.
    The state-run company has accepted bids worth 25 billion rupees ($301.19 million) for the
bond issue and had invited bids earlier in the day for the same. 
   
    Here is the list of deals reported so far on Jan. 16: 
             Issuer                                                            
                        Tenure        Coupon (in %)  Issue size (in            Rating
                                                     bln rupees)*    Bidding   
                                                                     date      
                                                                               
                                                                               
 IRFC                   5 yrs and 3   7.57           25              Jan. 16   AAA (Crisil,
                        mnts                                                   Icra)
             NABARD     3 yrs, 1 mnt  To be decided  20+30           Jan. 18   AAA (Icra,
 reissue of Mar 2027    and 25 days                                            India Ratings)
 bonds                                                                         
                                                                               
             SIDBI      3 yr, 4 mnts  To be decided  15 + 25         Jan. 17   AAA (Crisil,
                        and 22 days                                            Careedge)
             Highways   3 yrs         8.34           5               Jan. 17   AAA (Crisil)
 Infrastructure Trust                                                          
                                                                               
             Bajaj      3 yrs         To be decided  5 + 5           Jan. 17   AAA (Crisil)
 Housing Finance                                                               
                                                                               
 L&T Finance Holdings   3 yrs         To be decided  1 + 2           Jan. 17   AAA (Crisil,
 reissue of Jan 2027                                                           Icra)
 bonds                                                                         
 
*Size includes base plus greenshoe for some issues


($1 = 83.0050 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Bhakti.Tambe@thomsonreuters.com))