India New Issue-IRFC to issue 5-year bonds, bankers say

Indian Railway Finance

25/07/2024 12:20

MUMBAI, July 25 (Reuters) - Indian Railway Finance Corp  INID.NS  plans to
raise up to 30 billion rupees  ($358.38 million), including a greenshoe of 25 billion
rupees, through bonds maturing in five years, three bankers said on Thursday.
    The state-run company has invited bids from bankers and investors for the issue on
Monday, they said.
 
 Here is the list of deals reported so far on July 25:
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
 Indian         5 years       To be decided  5+25            July 29      AAA (Icra,
 Railway                                                                  Crisil)
 Finance Corp                                                             
 Delhi          10 years      9.50           25.13           July 24      AA- (Icra,
 International                                                            India
 Airport                                                                  Ratings)
 Godrej         3 years and   To be decided  5+5             July 25      AA+ (India
 Properties     6 months                                                  Ratings)
 Godrej         5 years       To be decided  1+2.4           July 25      AA+ (India
 Properties                                                               Ratings)
 Bajaj Finance       5 years           7.98       2.5 + 7.5  July 30      AAA (Crisil)
 * Size includes base plus greenshoe for some issues
 


($1 = 83.7110 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Janane Venkatraman
)
 ((Bhakti.Tambe@thomsonreuters.com))