India New Issue-IndoStar Capital Finance accepts bids for multiple-tenor bonds - bankers

IndoStar Capital Finance

04/08/2023 12:33

(NOTE TO SUBSCRIBERS: Reuters is considering discontinuing the following 'India New Issue'
report. If you have feedback or questions, please contact India Financial News Editor Ira Dugal
Ira.Dugal@thomsonreuters.com prior to August 7)
       MUMBAI, Aug 4 (Reuters) - India's IndoStar Capital Finance has accepted bids worth an
aggregate of six billion rupees ($72.5 million) for bonds maturing in two years and three years,
three bankers said on Friday.
    It will pay an annual coupon of 9.95% and 9.85% respectively, and had invited commitment
bids for the issue earlier in the day. In June, it had raised seven billion rupees through the
sale of bonds maturing in 21 months and in two years.


 
Below is the list of deals reported so far on Aug 4:
             Issuer                                                           
                      Tenure                  Issue size (in  Bidding date    Rating
                                    Coupon    bln rupees)*                    
                                    (in %)                                    
                                                                              
                                                                              
 IndoStar Capital     2-yr          9.95      3.5             Aug 4           AA- (Crisil)
 Finance                                                                      
 IndoStar Capital     3-yr          9.85      2.5             Aug 4           AA- (Crisil)
 Finance                                                                      
             THDC     10-yr         To be     3               To be decided   AA (Care)
 India                              decided                                   
                                                                              
             Bank of  10-yr         To be     2 + 8           To be decided   AA+ (Acuite,
 Maharashtra                        decided                                   Infomerics)
                                                                              
                              5-yr      7.75            7.50  August 7        AAA (ICRA)
 Sundaram Finance                                                             
                                                                              
 Renew Fazilka Solar          3-yr  9.55                2.50  August 7        A+ (Care)
 Power                                                                        
 
*Size includes base plus greenshoe for some issuances




($1 = 82.8130 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by)
 ((Dharamraj.dhutia@tr.com))