India New Issue-Sundaram Finance accepts bids for 3-year bonds, bankers say

Sundaram Finance

20/06/2024 12:19

MUMBAI, June 20 (Reuters) - India's Sundaram Finance  SNFN.NS  has accepted bids worth
7.50 billion rupees ($89.7 million) for the sale of bonds maturing in three years, three bankers
said on Thursday.
    The company will pay a coupon of 8.12% on the bond issue, and had invited bids from bankers
and investors earlier in the day, they said.
    
 
  Here is the list of deals reported so far on June 20: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 Sundaram Finance  3 years       8.12           7.50            June 20      AAA (Icra)
                   15 years      To be decided  5+20            June 24      AAA (Careedge,
 IIFCL                                                                       India Ratings)
                                                                             
                   3 year and 6  8.42           2.5+2.5         To be        AA (Crisil)
 Godrej            months                                       decided      
 Industries                                                                  
                                                                             
             HDB   1 year and 9  8.35 (yield)   15              June 19      AAA (Crisil,
 Financial         months                                                    Careedge)
 Apr 2026 reissue                                                            
                                                                             
                   10 years      To be decided  20              To be        AAA (Careedge
 Canara Bank                                                    decided      Ratings)
                                                                             
             LIC   4 years and   To be decided  7.5+10          June 21      AAA (Crisil)
 Housing           11 months                                                 
 May 2029 reissue                                                            
                                                                             
                   2 years and   7.87           3.5+3           June 21      AAA (Crisil,
 India Grid Trust  8 months      (quarterly)                                 Icra)
                                                                             
                   3 years       To be decided  5               June 20      AAA (Icra)
 Kotak Mahindra                                                              
 Prime                                                                       
                                                                             
             NIIF   5 years and           8.07               5  June 20      AAA (Icra,
 Infra Finance         2 months                                              Careedge)
                                                                             
 *Size includes base plus greenshoe for some issues 




($1 = 83.6076 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))