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    NXST — Nexus Select Trust News Story

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    India New Issue-Nexus Select Trust to issue multiple-tenor bonds, bankers say

    Picture of Nexus Select Trust logoNexus Select Trust
    11/12/2025 07:11
    MUMBAI, Dec 11 (Reuters) - India's Nexus Select Trust NEXE.NS plans to raise up to 7 billion rupees ($77.56 million) through the sale of two bonds maturing in about 10 years each, three bankers said on Thursday.

It will pay a coupon of 6.98% (payable quarterly) on the first issue, where the coupon will get reset on June 30, 2029, they said.

For the second issue, the real estate investment trust (REIT) will pay a floating coupon with initial rate as 6.95%, then benchmark three-month overnight index swap (OIS) rate + spread of 1.61%. The coupon will get reset on September 30, 2030.

It has invited commitment bids for the issue on Friday.

The company did not immediately respond to a Reuters email seeking comment.

 Here is the list of deals reported so far on December 11:


    IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
    Nexus Select Trust10 years6.98% (payable quarterly)5December 12AAA(Crisil, Icra)
    Nexus Select Trust10 years6.95% (payable quarterly) initial, then 3M OIS+ 1.6%2December 12AAA(Crisil, Icra)
    Credila Financial18 monthsTo be decided1.5+3.5December 12AA+ (Crisil)
    Credila Financial2 year and 3 monthsTo be decided2.5+2.5December 12AA+ (Crisil)
    Manappuram Finance2 years82+3December 12AA (Crisil)
    

*Size includes base plus greenshoe for some issues

($1 = 90.2470 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

 ((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))

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