India New Issue-IRFC to issue 10-year bonds, bankers say

Indian Railway Finance

10/06/2024 03:32

MUMBAI, June 10 (Reuters) - Indian Railway Finance Corp  INID.NS (IRFC) plans to raise
30 billion rupees ($359.26 million), which includes 25 billion rupees of a greenshoe option,
selling bonds maturing in 10 years, three bankers said on Monday.
    The state-run company has invited coupon and commitment bids from investors and bankers on
Tuesday, they said.
    This would be IRFC's first bond issuance in this financial year. In March, IRFC raised 26.16
billion rupees through sale of five-year and three-month bonds at a 7.46% coupon.
    
 
 Here is the list of deals reported so far on June 10: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 IRFC           10 years  To be decided            5+25  June 11      AAA (Crisil,
                                                                      Icra)
 
*Size includes base plus greenshoe for some issues



($1 = 83.5040 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)
 ((Dharamraj.dhutia@tr.com))