India New Issue-IRFC to issue 15-year bonds, bankers say

Indian Railway Finance

10/02/2025 11:10

MUMBAI, Feb 10 (Reuters) - Indian Railway Finance Corp  INID.NS  (IRFC) plans to raise
30 billion rupees ($343.17 million), including a greenshoe option of 25 billion rupees, selling
bonds maturing in 15 years, three bankers said on Monday.
    The state-run company has invited coupon and commitment bids from bankers and investors on
Wednesday, the bankers said.
    The company did not immediately reply to a Reuters request seeking comment.
    
 
   Here is the list of deals reported so far on February 10: 
                                                                                
 Issuer             Tenure            Coupon (in %)  Issue size (in    Bidding  Rating
                                                     bln rupees)*    date       
                                                                                
 IRFC               15 years          To be decided  5+25            Feb. 12    AAA (Crisil,
                                                                                Icra, Care)
                    3 years 1 month   To be decided  20+30           Feb. 12    AAA (Crisil,
 NABARD             and 11 days                                                 Icra)
 Mar 2028 reissue                                                               
                                                                                
                    2 year and 4      7.8989         5               Feb. 10    AAA (Icra,
 Aditya Birla       months                                                      Crisil)
 Housing Finance                                                                
                                                                                
 Aditya Birla       3 year and 4      7.8639         5               Feb. 10    AAA (Icra,
 Housing Finance    months                                                      Crisil)
             SIDBI  4 years and 1     7.42           60              Feb. 10    AAA (Crisil,
                    month                                                       Care)
             HUDCO  10 years          7.29           29.10           Feb. 10    AAA (India
                                                                                Ratings, Care)
             Cube   17 years and 11   7.67           8.60            Feb. 10    AAA (Crisil)
 Highways Trust     months            (quarterly)                               
                                                                                
                    Perpetual         To be decided  2+3             Feb. 11    AA+
 Aditya Birla                                                                   (Icra)(Crisil)
 Finance                                                                        
                                                                                
                    10 years          9.00%          5.50            Feb. 7     AA+ (Crisil)
 Credila Financial                                                              
 Services                                                                       
                                                                                
 
*Size includes base plus greenshoe for some issues




($1 = 87.4200 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
 ((Dharamraj.dhutia@tr.com))