India New Issue-Sundaram Finance accepts bids for 6-year bonds - bankers

Sundaram Finance

28/02/2024 09:44

MUMBAI, Feb 28 (Reuters) - India's Sundaram Finance  SNFN.NS  has accepted bids worth
raise 20 billion rupees ($241.14 million) for bonds maturing in six years, three merchant
bankers said on Wednesday.
    The company will pay an annual coupon of 7.97% on the 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 Feb. 28:
             Issuer                                                            
                         Tenure        Coupon (in %)  Issue size (in           Rating
                                                      bln rupees)*    Bidding  
                                                                      date     
                                                                               
                                                                               
 Sundaram Finance        6 years       7.97           20              Feb. 28  AAA (Crisil)
             Bajaj       10 years      7.78 (yield)   5               Feb. 28  AAA (Crisil)
 Housing Finance Feb                                                           
 2034 reissue                                                                  
                                                                               
             Aditya      3 years       8.20           2+3             Feb. 29  AAA (Icra,
 Birla Housing Finance                                                         India Ratings)
                                                                               
             Bahadur     4 years       To be decided  7.5+2.5         Feb. 29  AA (Icra)
 Chand Investments                                                             
                                                                               
             LIC         3 years and   To be decided  10+20           Feb. 29  AAA (Crisil,
 Housing Finance         2 months                                              Careedge)
                                                                               
             Godrej      2 years and   8.36           5               Feb. 27  AA (Crisil,
 Industries              6 months                                              Icra)
                                                                               
 Godrej Industries       3 years and   8.40           5               Feb. 27  AA (Crisil,
                         6 months                                              Icra)
             Axis        2 years       8.35           3               Feb. 27  AAA (Crisil,
 Finance                                                                       India Ratings)
                                                                               
 Axis Finance Feb 2027   3 years       8.35 (yield)   3               Feb. 27  AAA (Crisil,
 reissue                                                                       India Ratings)
                         5 years       8.65           10              Feb. 27  AA+ (Icra)
 Cholamandalam                                                                 
 Investment and Finance                                                        
                                                                               
 
 * Size includes base plus greenshoe for some issues



($1 = 82.9400 Indian rupees)

 (Reporting by Dharamraj Dhutia;
Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))