India New Issue-REC to issue multiple-tenor bonds, bankers say
India New Issue-REC to issue multiple-tenor bonds, bankers say MUMBAI, Sept 10 (Reuters) - India's REC RECM.NS plans to raise up to 70 billion rupees ($735.00 million), including a greenshoe option of 57 billion rupees, via a sale of bonds maturing in 10 years and 14 days and five years and 14 days, three bankers said on Thursday.
The five-year note will carry a put option after three years, one bankers said.
REC has invited coupon and commitment bids for the issue on Friday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 10:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
REC | 10 years and 14 days | To be decided | 8+32 | September 11 | AAA(Crisil, Care) |
REC | 5 years and 14 days | To be decided | 5+25 | September 11 | AAA(Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 95.2375 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia)
((Khushi.malhotra@tr.com, Dharamraj.dhutia@tr.com))
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