India New Issue-PFC to issue multiple-tenor bonds, bankers say

Power Finance

Wed 09:52

MUMBAI, Nov 11 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise up to 60 billion rupees ($640.02 million), which includes a greenshoe option of 50 billion rupees, through the sale of bonds maturing in 1.5 years and five years, three bankers said on Wednesday. 
The financier has invited coupon and commitment bids from bankers and investors on Friday, they added.
The company did not respond to a Reuters email seeking comment.
     
Here is the list of deals reported so far on November 11: 
Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
PFC
5 years
To be decided
5+25
November 13
AAA (Care, Icra, Crisil)
PFC
1.5 years
To be decided
5+25
November 13
AAA (Care, Icra, Crisil)
HUDCO
10 years
To be decided
5+20
November 13
AAA (Icra, Care)
Aditya Birla Capital
4 years
zero coupon
15+10
November 12
AAA (Crisil)
HDB Financial Services
3 years and near 1 month
8.5008
3+7
November 12
AAA (Crisil, Care)
360 One Prime
3 years
9.80
10
November 9
AA (Icra)
     
*Size includes base plus greenshoe for some issues
     
     
     
($1 = 93.7475 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Harikrishnan Nair)
((Khushi.malhotra@tr.com))