India New Issue-REC to issue over 2-year bonds, bankers say

REC

06/08/2024 10:39

MUMBAI, Aug 6 (Reuters) - India's REC  RECM.NS  plans to raise up to 20 billion rupees
($238.25 million), including a greenshoe of 15 billion rupees, through bonds maturing in two
years and three months, three bankers said on Tuesday. 
    The company has invited bids from investors and bankers on Thursday, they said.
  
     
   Here is the list of deals reported so far on Aug. 6: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 REC               2 years and   To be decided  5+15            Aug 8        AAA (Crisil,
                   3 months                                                  India Ratings)
 Tata Capital Feb  3 years and   To be decided  5+5.53          Aug 7        AA+ (Crisil)
 2028 bond         6 months                                                  
 reissue                                                                     
                   10 years      7.98           5               Aug 2        AAA (Crisil,
 India Infradebt                                                             Icra)
                                                                             
             SMFG  2 years       8.28           8.25            Aug 2        AAA (ICRA)
 India Credit                                                                
                                                                             
 SMFG India        2 years and   8.30           8.75            Aug 2        AAA (ICRA)
 Credit            11 months                                                 
             SBI   10 years      8.25           15              Aug 7        AAA (Crisil,
 Cards and                                                                   Icra)
 Payment Services                                                            
                                                                             
                   3 years and   To be decided  2+5             Aug 6        AA+ (Crisil)
 Muthoot Finance   2 months                                                  
                                                                             
 
*Size includes base plus greenshoe for some issues

($1 = 83.9442 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia)
 ((Bhakti.Tambe@thomsonreuters.com))