India New Issue-IRFC to issue over five-year bonds - bankers

Indian Railway Finance

12/01/2024 11:15

MUMBAI, Jan 12 (Reuters) - Indian Railway Finance Corp  INID.NS  plans to raise up to 25
billion rupees ($301.50 million), including a greenshoe option of 20 billion rupees, through
bonds maturing in five years and three months, three bankers said on Friday.
    The state-run company has invited bids from bankers and investors on Tuesday, they said. 
    
 
 Here is the list of deals reported so far on Jan. 12:
             Issuer                                                             
                         Tenure        Coupon (in %)  Issue size (in            Rating
                                                      bln rupees)*    Bidding   
                                                                      date      
                                                                                
                                                                                
 IRFC                    5 years and   To be decided  5+20            Jan. 16   AAA (Crisil,
                         3 mnts                                                 Icra)
 DLF Cyber City          3 yrs and 5   8.40           6.20            Jan. 12   AA+ (Icra)
 Developers              mnts                                                   
             ONGC Petro  3 years       To be decided  2+7             To  be    AA (Crisil,
 additions                                                            decided   Icra)
                                                                                
             Bajaj       3 years       8.20 yield     12              Jan. 12   AAA (Crisil)
 Finance Jan 2027 bond                                                          
 reissue                                                                        
                                                                                
             Bajaj       2 years       8.20           3               Jan. 12   AAA (Crisil)
 Finance                                                                        
                                                                                
             HDB         1 year and    8.30 (yield)   0.70            Jan. 12   AAA(Crisil)
 Financial Services Nov  10 months                                              
 2025 reissue                                                                   
                                                                                
             HDB         2 years and   8.30 (yield)   5.15            Jan. 12   AAA(Crisil)
 Financial Services Jul  6 months                                               
 2026 reissue                                                                   
                                                                                
             THDC India  10 years      7.93           7.79            Jan. 12   AAA (India
                                                                                Ratings)
             REC         3 years and   7.71           10              Jan. 12   AAA (Icra)
                         1 month                                                
             REC         10 years      7.64           30              Jan. 12   AAA (Icra)
                                                                                
             M&M         10 years      8.35           2 + 3           Jan. 15   AAA (Crisil,
 Financial Services                                                             India Ratings)
                                                                                
 
* Size includes base plus greenshoe for some issues


($1 = 82.9184 Indian rupees)

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