India New Issue-REC to issue 10-year bonds, bankers say

REC

Yesterday 08:17

    MUMBAI, June 15 (Reuters) - India's REC RECM.NS plans to raise up to 40 billion rupees ($422.10 million), including a greenshoe option of 32 billion rupees, through a sale of bonds maturing in 10 years, three bankers said on Monday. 
It has invited coupon and commitment bids for the issue on Tuesday, they said.
REC did not immediately respond to a Reuters email seeking comment. 

    
Here is the list of deals reported so far on June 15: 

            Issuer
          

            Tenure
          

            Coupon (in %)
          

            Issue size (in bln rupees)*
          

            Bidding date
          

            Rating
          
REC
10 years
To be decided
8+32
June 16
AAA(Care, Crisil)

            HUDCO
          
3 years and 1 month
To be decided 
5+25
June 16
AAA (Icra, Care)

            L&T Finance
          
3 years
8.12
15
June 12
AAA (Crisil, Care)

            Sundaram Finance
          
3 years and 2 months
7.95
12.60
June 12
AAA (Crisil)

            LIC Housing
          
5 years
7.59
11.50
June 12
AAA (Crisil, Care)
     
*Size includes base plus greenshoe for some issues
     
     
($1 = 94.7650 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrishnan Nair)
((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))