India New Issue-Torrent Power accepts bids for multiple tenor bonds - bankers

Piramal Enterprises

27/02/2024 10:47

MUMBAI, Feb 27 (Reuters) - India's Torrent Power  TOPO.NS  has accepted bids worth 7
billion rupees ($84.5 million) for bonds maturing in two to five years, three bankers said on
Tuesday.
    The company will pay an annual coupon of 8.32% for each issue, and had invited bids for the
issue earlier in the day, they said.
    Last month, it had raised 7.50 billion rupees through a sale of bonds, with maturities
ranging from two to five years, each offering an annual coupon of 8.40%.
    
 
   Here is the list of deals reported so far on Feb. 27:
                                                                                       Rating
 Issuer             Tenure         Coupon (in %)  Issue size (in           
                                                  bln rupees)*    Bidding  
                                                                  date     
                                                                           
                                                                           
 Torrent Power      2 yrs, 3 yrs,  8.32           7               Feb. 27  AA+ (Crisil, India
                    4 yrs, 5 yrs                                           Ratings)
             DME    15 years       To be decided  10+20           Feb. 29  AAA (Crisil,
 Development                                                               Careedge)
                                                                           
             SBI    10 years       8.29           7.50            Feb. 27  AAA (Crisil, Icra)
 Cards and Payment                                                         
 Services                                                                  
                                                                           
                        3 years    To be decided  2+8             Feb. 28  AAA (Icra, India
 Aditya Birla                                                              Ratings)
 Finance                                                                   
                                                                           
             Bajaj     10 years    To be decided  5+2.50          Feb. 28  AAA (Crisil)
 Housing Finance                                                           
 Feb 2034 reissue                                                          
                                                                           
             Tata   3 years and 2  8.2850         5+11.40         Feb. 28  AAA (Crisil, ICRA)
 Capital            months                                                 
                                                                           
                     2 years       9.35           1+5             Feb. 28  AA (Careedge)
 Piramal                                                                   
 Enterprises                                                               
                                                                           
                     6 years       To be decided  20              Feb. 28  AAA (Crisil)
 Sundaram Finance                                                          
                                                                           
             Axis    2 years       8.35           3+2             Feb. 27  AAA (Crisil, India
 Finance                                                                   Ratings)
                                                                           
 Axis Finance Feb    3 years       To be decided  2+1             Feb. 27  AAA (Crisil, India
 2027 reissue                                                              Ratings)
                          5 years  To be decided               1  Mar. 1   AA+ (India Ratings,
 Vadodara                                                                  AA (Crisil)
 Municipal Corp                                                            
                                                                           
 
* Size includes base plus greenshoe for some issues



($1 = 82.8560 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))