India New Issue-NIIF Infra Finance to issue 12-year bonds, bankers say

Ramco Cements

12/03/2024 02:47

MUMBAI, March 12 (Reuters) - India's NIIF Infrastructure Finance plans to raise 6
billion rupees ($72.51 million) through sale of bonds maturing in 12 years, three bankers said
on Tuesday.
    The company has invited bids from bankers and investors for the issue on Wednesday, they
said.
    
 
   Here is the list of deals reported so far on March 12: 
                                                                        
 Issuer       Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                           bln rupees)*    date         
                                                                        
 NIIF Infra   12 years      To be decided  2.5+3.5         March 13     AAA (ICRA,
 Finance                                                                Careedge)
              3 years       9.80           4.64            March 11     AA (Icra)
 DMI Finance                                                            
                                                                        
              4 years and   7.80           1.50            March 11     AA+ (Icra)
 Ramco        6 months                                                  
 Cements                                                                
                                                                        
 Ramco         4 years and           7.80            1.50  March 11     AA+ (Icra)
 Cements          9 months                                              
 Ramco            5 years   7.80                        2  March 11     AA+ (Icra)
 Cements                                                                
 
 * Size includes base plus greenshoe for some issues


  ($1 = 82.7520 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))