India New Issue-REC accepts bids for over 5-year bonds, bankers say
India New Issue-REC accepts bids for over 5-year bonds, bankers say MUMBAI, Oct 27 (Reuters) - India's REC RECM.NS had accepted bids worth 40 billion rupees ($420.23 million) for the sale of bonds maturing in five years and three days, three bankers said on Tuesday.
The state-run company will pay a coupon of 8.30%, and had invited commitment bids for the issue earlier in the day, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on October 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
REC | 5 years and 3 days | 8.30 | 40 | Tuesday | AAA (Crisil, Icra, Care) |
Poonawalla Fincorp | 3 years | 9 | 2.5+5 | Wednesday | AAA(Crisil, Care) |
Poonawalla Fincorp | 4 years | zero coupon | 7.5+5 | Wednesday | AAA(Crisil, Care) |
* Size includes base plus greenshoe for some issues
($1 = 95.1850 Indian rupees)
(Reporting by Khushi Malhotra)
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