India New Issue-Ramco Cements accepts bids for multiple tenor bonds - bankers

Ramco Cements

12/03/2024 02:38

MUMBAI, March 12 (Reuters) - India's Ramco Cements  TRCE.NS  has accepted bids worth an
aggregate of 5 billion rupees ($60.4 million) for multiple maturity bonds with maturities of
four years and six months, four years and nine months, and five years, three merchant bankers
said on Tuesday.
    The cement manufacturer will pay an annual coupon of 7.80% on all the options, and had
invited bids from investors and bankers on Monday.
    
 
  Here is the list of deals reported so far on March 12: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      
                                         bln rupees)*    date         Rating
                                                                      
                                                                      
 Ramco      4 yrs and 6   7.80           1.50            March 11     AA+
 Cements    mnts                                                      (Icra)
 Ramco      4 yrs and 9   7.80           1.50            March 11     AA+
 Cements    mnts                                                      (Icra)
 Ramco      5 yrs         7.80           2               March 11     AA+
 Cements                                                              (Icra)
 
*Size includes base plus greenshoe for some issues

($1 = 82.7520 Indian rupees)

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