India New Issue-Poonawalla Fincorp accepts bids for bond issues - bankers

Poonawalla Fincorp

06/02/2024 09:10

MUMBAI, Feb 6 (Reuters) - India's Poonawalla Fincorp  POON.NS  has accepted bids worth 5
billion rupees ($60.2 million) for bonds maturing in two years, and in two years and three
months, three merchant bankers said on Tuesday.
    The company will pay a coupon of 8.38% on each issue and had invited bids from investors and
bankers earlier in the day, the bankers said.
    
 
   Here is the list of deals reported so far on Feb. 6:
                                                                          
  Issuer     Tenure           Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Poonawalla  2 years          8.38           2.50            Feb. 6       AAA (Crisil,
 Fincorp                                                                  Careedge)
 Poonawalla  2 yrs and 3      8.38           2.50            Feb. 6       AAA (Crisil,
 Fincorp     mnts                                                         Careedge)
             4 yrs and 2      To be decided  5+15            Feb. 8       AAA (Crisil)
  EXIM Bank  mnts                                                         
                                                                          
             10 yrs           7.99           1+5             Feb. 7       AAA (Crisil,
  Tata                                                                    ICRA)
 Capital                                                                  
                                                                          
             9 yrs 11 mnts    To be decided  4+20            Feb. 7       AAA (Crisil,
  Bajaj      and 23 days                                                  India Ratings)
 Finance                                                                  
                                                                          
             10 yrs           To be decided  6+30            Feb. 7       AAA (Crisil,
  Bajaj                                                                   India Ratings)
 Finance                                                                  
                                                                          
 *Size includes base plus greenshoe for some issues
 
 ($1 = 83.0525 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))