India New Issue-NABARD to reissue Mar 2027 bonds - bankers

L&T Finance

16/01/2024 05:22

MUMBAI, Jan 16 (Reuters) - India's National Bank for Agriculture and Rural Development
(NABARD) plans to raise up to 50 billion rupees  ($602.6 million), including a greenshoe of 30
billion rupees, through a reissue of 7.80%, March 2027 bonds, three bankers said on Tuesday.
    The state-run company has invited bids from investors and bankers on Thursday.  
    Earlier this month, NABARD raised 49.90 billion rupees via bonds maturing in three years and
two months at a coupon of 7.80%. 
 
  Here is the list of deals reported so far on Jan. 16: 
             Issuer                                                            
                        Tenure        Coupon (in %)  Issue size (in            Rating
                                                     bln rupees)*    Bidding   
                                                                     date      
                                                                               
                                                                               
 NABARD reissue of Mar  3 yrs, 1 mnt  To be decided  20+30           Jan. 18   AAA (Icra,
 2027 bonds             and 25 days                                            India Ratings)
 SIDBI                  3 yr, 4 mnts  To be decided  15 + 25         Jan. 17   AAA (Crisil,
                        and 22 days                                            Careedge)
             Highways   3 yrs         8.34           5               Jan. 17   AAA (Crisil)
 Infrastructure Trust                                                          
                                                                               
             Bajaj      3 yrs         To be decided  5 + 5           Jan. 17   AAA (Crisil)
 Housing Finance                                                               
                                                                               
 L&T Finance Holdings   3 yrs         To be decided  1 + 2           Jan. 17   AAA (Crisil,
  Jan 2027 reissue                                                             Icra)
 
*Size includes base plus greenshoe for some issues



($1 = 82.9680 Indian rupees)

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