India New Issue-IRFC to seek bids for 10-year bonds - bankers

Indian Railway Finance

22/02/2024 09:53

MUMBAI, Feb 22 (Reuters) - Indian Railway Finance Corp (IRFC)  INID.NS  plans to raise
up to 30 billion rupees ($361.92 million), including a greenshoe option of 25 billion rupees
through bonds maturing in 10 years, three bankers said on Thursday. 
    The state-run company has invited bids from investors and bankers on Monday, they said.
 
    
 Here is the list of deals reported so far on Feb. 22: 
             Issuer                                                            
                     Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                  bln rupees)*    date         
                                                                               
 IRFC                10 years      To be decided  5+25            Feb. 28      AAA (Crisil,
                                                                               Icra)
             Can     3 years and   8.25           10              Feb. 22      AAA (Crisil,
 Fin Homes           3 months                                                  Icra)
                                                                               
 Tata Capital July    9 years and         8.2313            2.40  Feb. 21      AAA (Crisil,
 2033 reissue            5 months        (yield)                               Icra)
 
* Size includes base plus greenshoe for some issues

($1 = 82.8920 Indian rupees)

 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com))