India New Issue-REC accepts bids for 10-year bonds, bankers say

REC

Today 08:52

    MUMBAI, June 16 (Reuters) - India's REC RECM.NS has accepted bids worth 40 billion rupees ($422.5 million) for bonds maturing in 10 years, three bankers said on Tuesday.
It will pay an annual coupon of 7.46%, and had invited coupon and commitment bids for the issue earlier in the day, they said.
REC confirmed the debt issue over an email.
 
 Here is the list of deals reported so far on June 16: 

            Issuer
          

            Tenure
          

            Coupon (in %)
          

            Issue size (in bln rupees)*
          

            Bidding date
          

            Rating
          
REC
10 years
7.46
40
June 16
AAA (Care, Crisil)

            HUDCO
          
3 years and 1 month
7.23
21.40
June 16
AAA (Icra, Care)

            SIDBI
          
5 years
7.40
60
June 16
AAA(Care, Crisil)

            Jio Credit
          
5 years
8.15
15
June 15
AAA (Crisil, Care)
Aditya Birla Capital 
5 years
8.26
5
June 15
AAA (Crisil)

            Aditya Birla Capital Sept 2029 reissue
          
3 years and 3 months
8.07 (yield)
6.3
June 15
AAA (Crisil)

*Size includes base plus greenshoe for some issues


($1 = 94.6650 Indian rupees)

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