India New Issue-India's infra bank seeks bids for 10-year debut bond issue - bankers

Sundaram Finance

08/06/2023 12:46

MUMBAI, June 8 (Reuters) - India's National Bank for Financing Infrastructure and
Development (NaBFID) is planning to raise at least 50 billion Indian rupees ($605.78 million)
through its debut issue of bonds maturing in 10 years, three merchant bankers said on Thursday.
    The company has invited bids from investors and bankers on Monday. Earlier this week,
Reuters reported NaBFID is planning its debut bond issue to raise up to 100 billion rupees. 
    
 Below is the list of deals reported so far on June 8:
                                                                                     Rating
 Issuer             Tenure                     Issue size (in            
                                      Coupon   bln rupees)*    Bidding   
                                      (in %)                   date      
                                                                         
                                                                         
 NaBFID             10-yr             To be    50+50           June 15   AAA (Crisil, ICRA)
                                      decided                            
                    2-yr              7.74     5               June 8    AAA (ICRA)
 Sundaram Finance                                                        
                                                                         
 Northern Arc       1-yr and 1 mnt    9.00     0.25 + 0.75     June 9    AA- (ICRA)
 Capital                                                                 
             SIDBI  3-yr and 3 mnts   7.44     60              June 8    AAA(CARE Ratings, ICRA)
                                                                         
 
*Size includes base plus greenshoe for some issuance





($1 = 82.5377 Indian rupees)

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