India New Issue-IREDA accepts bids for over 10-yr bonds, bankers say

Indian Renewable Energy Development Agency

21/06/2024 08:27

MUMBAI, June 21 (Reuters) - Indian Renewable Energy Development Agency  INAR.NS  (IREDA)
has accepted bids worth 15 billion rupees for bonds maturing in 10 years and two months, three
bankers said on Friday.
    The private lender has set a coupon of 7.44% on the bond issue, for which it invited bids
earlier in the day. 
 
   Here is the list of deals reported so far on June 21: 
                                                                            
 Issuer           Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                               bln rupees)*    date         
                                                                            
 IREDA            10 years and  7.44           15              June 21      AAA (Icra)
                  2 months                                                  
                  10 years      To be          150             To be        AAA (Crisil,
 HDFC Bank                      deecided                       decided      Careedge)
                                                                            
                  5 years       8.64           5               June 24      AA+ (Icra,
 Cholamandalam                                                              India Ratings)
 Investment                                                                 
                                                                            
                  3 years       8.12           5               June 20      AAA (Icra)
 Kotak Mahindra                                                             
 Prime                                                                      
                                                                            
                  19 years and  To be decided            6.48  June 24      AAA (India
 Cube Highways        9 months                                              Ratings)
 Trust                                                                      
                                                                            
 *Size includes base plus greenshoe for some issues



($1 = 83.5640 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia)
 ((Bhakti.Tambe@thomsonreuters.com))