India New Issue-Punjab & Sind Bank to issue 10-year infra bonds, bankers say

Punjab & Sind Bank

11/12/2024 06:34

MUMBAI, Dec 11 (Reuters) - India's Punjab & Sind Bank  PUNA.NS  plans to raise 30
billion rupees ($353.64 million) through the sale of infrastructure bonds maturing in 10 years,
three bankers said on Wednesday.
    The state-run lender is likely to invite bids from bankers and investors next week, the
bankers added. 
    The bank did not immediately reply to a Reuters request for comment. 
    
 
    Here is the list of deals reported so far on Dec. 11: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Punjab &   10 years      To be decided  30              To be        AA (Crisil,
 Sind Bank                                               decided      India Ratings)
            5 years       7.14           25              Dec. 11      AAA (Crisil,
   EXIM                                                               Icra)
 Bank                                                                 
                                                                      
            10 years      To be decided  5+25            Dec. 12      AAA (Crisil,
   IRFC                                                               Icra)
                                                                      
            5 year and 5  To be decided           30+40  Dec. 12      AAA (Crisil,
   NABARD         months                                              Icra)
                                                                      
 
*Size includes base plus greenshoe for some issues



($1 = 84.8325 Indian rupees)

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