India New Issue-SIDBI accepts bids for 5-year bonds - bankers

Indian Railway Finance

22/11/2023 08:45

MUMBAI, Nov 22 (Reuters) - Small Industries Development Bank of India
(SIDBI) has accepted bids worth 48.87 billion Indian rupees for a sale of bonds
maturing in five years, three merchant bankers said on Wednesday.
    The company invited bids for investors and bankers earlier in the day, they
said.
    In October, SIDBI raised 30.22 billion rupees through bonds maturing in three
years and six months at a coupon of 7.79%.
 
 Here is the list of deals reported so far on Nov. 22: 
                                                                       
 Issuer             Tenure       Coupon   Issue size (in  Bidding      Rating
                               (in %)     bln rupees)*    date         
                                                                       
 SIDBI             5 yr        7.83       48.87           Nov. 22      AAA (Crisil)
 IRFC              3 yr        7.68       24.04           Nov. 22      AAA (Crisil,
                                                                       ICRA)
 Shriram Finance   5 yr        8.90       3.25            Nov. 21      AA+ (Crisil)
 Shriram Finance        10 yr       8.80               1  Nov. 21      AA+ (Crisil)
 Nirmal Bang       1 yr and 6  10.75      0.50            Nov. 21      A- (Crisil)
 Securities        months                                              
 Private                                                               
 Satin Creditcare  1 yr and 6  10.90           0.25+0.25  Nov. 23      A- (Icra)
 Network               months                                          
 
*Size includes base plus greenshoe for some issues

($1 = 83.2440 Indian rupees)

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