India New Issue-Indostar Capital Finance to issue multiple tenor bonds - bankers

IndoStar Capital Finance

27/06/2023 11:08

MUMBAI, June 27 (Reuters) - India's Indostar Capital Finance  INAC.NS  plans to raise up
to 7 billion Indian rupees ($85.34 million) through the sale of bonds maturing in 21 months and
in two years.
    In May, the company raised 2.55 billion rupees through sale of two bonds, one maturing in
three years and 10 days and the other in two years at 10.25% and 9.95% coupons respectively. 


Below is the list of deals reported so far on June 27:
             Issuer                                                             
                      Tenure                       Issue size (in  Bidding      Rating
                                         Coupon    bln rupees)*    date         
                                         (in %)                                 
                                                                                
                                                                                
 Indostar Capital     21 mnts            9.95      1.5 + 2         June 29      AA- (Crisil)
 Finance                                                                        
 Indostar Capital     2-yr               9.95      2.5 + 1         June 29      AA- (Crisil)
 Finance                                                                        
             SIDBI    3-yr and 3 mnts    7.55      30              June 27      AAA (Crisil,
                                                                                Care)
             PNB      15-yr              7.74      30.9            June 27      AAA (India
                                                                                Ratings)
             Goswami  2-yr and 10 mnts   18.75     143             June 27      BBB- (Care)
 Infratech                               (yield)                                
                                                                                
             HDB      3-yr               To be     3 + 2           June 29      AAA (Crisil,
 Financial Services                      decided                                Care)
                                                                                
             HDB      3-yr and 2 mnts    To be     3 + 12          June 29      AAA (Crisil,
 Financial Sept 2026                     decided                                Care)
 reissue                                                                        
                                                                                
             Axis     3-yr               To be     2 + 3           June 29      AAA (Crisil)
 Finance                                 decided                                
                                                                                
             Cube     17-yr and 10 mnts  7.49      10.30           June 26      AAA (India
 Highways Trust                          (quarter                               Ratings)
                                         ly)                                    
 Kotak Infra Debt     5-yr and 2 mnts    8.05      0.75  + 0.75    June 29      AAA (Crisil)
 Fund                                                                           
 Tata Projects        2-yr               8.10      2               June 29      AA (India
                                                                                Ratings)
 
* Size includes base plus greenshoe for some issuances

($1 = 82.0230 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))