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

Indian Railway Finance

23/08/2024 11:12

MUMBAI, Aug 23 (Reuters) - Indian Railway Finance Corp  INID.NS  plans to raise up to 30
billion rupees ($357.72 million), including a greenshoe of 25 billion rupees, through bonds
maturing in 10 years, three bankers said on Friday.
    The state-run company has invited bids from bankers and investors for the issue on
Wednesday, they said.
    
 
  Here is the list of deals reported so far on Aug. 23
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 IRFC              10 years      To be decided  5+25            Aug. 28      AAA (Crisil,
                                                                             Icra)
 REC               2 years and   7.4847         26.75           Aug 23       AAA (Crisil,
 May 2027 reissue  9 months      (yield)                                     India Ratings
 REC               15 years and  7.31           21.45           Aug 23       AAA (Crisil,
                   1 month                                                   India Ratings
 Canara Bank          perpetual  To be decided           10+20  Aug 27       AA+ (Crisil,
                                                                             Icra)
 
*Size includes base plus greenshoe for some issues



($1 = 83.8920 Indian rupees)



 (Reporting by Bhakti Tambe and Dharamraj Dhutia)
 ((Bhakti.Tambe@thomsonreuters.com))