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

Punjab & Sind Bank

16/12/2024 03:28

MUMBAI, Dec 16 (Reuters) - India's Punjab & Sind Bank  PUNA.NS  plans to raise 30 billion rupees ($353.7 million), including a greenshoe option of 25 billion rupees, through the sale of infrastructure bonds maturing in 10 years, three bankers said on Monday.
    The state-run lender has invited bids from bankers and investors for the issue on Wednesday, 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. 16: 
                                                     
          Tenure           Coupon     Issue            Rating
 Issuer                  (in %)     size (in         
                                    bln        Bidd  
                                    rupees)*   ing   
                                               date  
                                                     
                                                     
 Punjab   10 years       To be      5+25       Dec.  AA
 & Sind                  decided               18    (Crisil,
 Bank                                                India
                                                     Ratings)
            13 years, 9       8.10      24.50  Dec.  AA+
          months and 15   (payable             13    (Crisil)
 Mumbai            days  quarterly                   
 Urja                            )                   
 Marg                                                
                                                     
                                                     
     
     *Size includes base plus greenshoe for some issues
     
     
     
    ($1 = 84.8250 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)
((Dharamraj.dhutia@tr.com))