India New Issue-Punjab & Sind Bank accepts bids for bond issue, bankers say

Punjab & Sind Bank

18/12/2024 07:39

MUMBAI, Dec 18 (Reuters) - India's Punjab & Sind Bank  PUNA.NS  has accepted bids worth
30 billion rupees ($353.31 million) for infrastructure bonds maturing in 10 years, three bankers
said on Wednesday. 
    The state-run lender will pay an annual coupon of 7.74% on the issue and invited bids from
bankers and investors earlier in the day, the bankers added.
    The bank did not reply to a Reuters request for comment.
    
 
  Here is the list of deals reported so far on Dec. 18: 
                                                                         
 Issuer            Tenure        Coupon (in   Issue size (in             Rating
                                 %)           bln rupees)*     Bidding   
                                                               date      
                                                                         
                                                                         
 Punjab & Sind     10 years      7.74         30               Dec. 18   AA (Crisil,
 Bank                                                                    India Ratings)
                   10 years      8.03         10.40            Dec. 18   AAA (Crisil,
 ICICI Prudential                                                        Icra)
 Life Insurance                                                          
                                                                         
             HDB   2 years and   To be        5+5              Dec. 19   AAA (Crisil,
 Financial         11 months     decided                                 Care)
 Services                                                                
                                                                         
             LIC   2 years and   To be        6+20             Dec. 19   AAA (Crisil,
 Housing           2 months      decided                                 Icra)
 Feb 2027 reissue                                                        
                                                                         
                    3 years and        To be              5+5  Dec. 19   AAA (Crisil)
 Bajaj Housing         3 months      decided                             
 Finance                                                                 
                                                                         
     
    *Size includes base plus greenshoe for some issues



($1 = 84.9110 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)
 ((Dharamraj.dhutia@tr.com))