India's Piramal Capital raises $300 million via maiden dollar bonds, IFR says

Piramal Enterprises

23/07/2024 05:02

MUMBAI, July 23 (Reuters) - India's Piramal Capital and
Housing Finance has raised $300 million by issuing its debut
sustainability bonds maturing in three years and six months at
7.95%, IFR, a Thomson Reuters publication, reported late Monday.
    The final coupon on these Regulation-S bonds was inside the
initial guidance of 8.25%, IFR reported, quoting people with
knowledge of the transaction.
    The company, a wholly-owned subsidiary of non-banking
financial firm Piramal Enterprises  PIRA.NS , received bids of
more than $1 billion, including $90 million from lead bankers. 
    The bonds are expected to be rated Ba3 by Moody's and BB– by
S&P.
    Deutsche Bank, Barclays and Standard Chartered were joint
global coordinators, as well as joint bookrunners with Axis
Bank, Citigroup and Emirates NBD Bank.

 (Reporting by Bhakti Tambe; Editing by Janane Venkatraman
)
 ((Bhakti.Tambe@thomsonreuters.com))