India New Issue-REC to issue multiple-tenor bonds, bankers say
India New Issue-REC to issue multiple-tenor bonds, bankers say MUMBAI, Aug 5 (Reuters) - India's REC RECM.NS plans to raise up to 70 billion rupees ($735.27 million), including a greenshoe option of 57 billion rupees, through a sale of bonds maturing in three years and 20 days and 15 years and 20 days, three bankers said on Wednesday.
It has invited coupon and commitment bids for the issue on Friday, they said.
REC did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 5:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
REC | 3 years and 20 days | To be decided | 5+25 | August 7 | AAA(Care, Crisil) |
REC | 15 years and 20 days | To be decided | 8+32 | August 7 | AAA(Care, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 95.2025 Indian rupees)
(Reporting by Dharamraj Dhutia, Khushi Malhotra)
((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))
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