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The bonds are likely to have a put and call option at the end of the first year, one of the bankers said. NHB is yet to make an official announcement of the planned bond sale on the electronic bidding platforms, and did not immediately respond to a Reuters request for comment.
In March, NHB raised Rs 1,900 crore through bonds maturing in three years and 10 days at a coupon of 7.77%, and this issue had a put and call option at the end of one year.
The company will offer a yield of 7.52% on the issue, for which it has received commitments worth around Rs 100 crore ($12.2 million) so far, they said. The notes are rated A1+ by ICRA.
India’s Housing and Urban Development Corp (HUDCO) plans to raise at least Rs 500 crore ($61.1 million) selling bonds maturing in three years and four months, four merchant bankers said on Thursday. The state-run company has invited coupon and commitment bids for the issue on Tuesday, they said.
This will be HUDCO’s first bond issue in the current financial year. The company last tapped the market in February and raised Rs 2,000 crore through bonds maturing in three years and three months at a coupon of 7.68%.
India’s Power Finance Corp Ltd plans to raise at least Rs 500 crore (about $61 million) through the sale of bonds maturing in 10 years and three months, three merchant bankers said on Thursday. The state-run company has invited bids from bankers and investors for the same on Tuesday, they said.
In March, PFC raised an aggregate of Rs 2,590 crore through bonds maturing in three years, five months and 15 days and in five years and 15 days at a coupon of 7.70% and 7.77%, respectively.
India’s Reliance Industries plans to raise funds by selling commercial papers maturing in two months, two merchant bankers said today.
The company will offer a yield of 6.88% on the issue and has received commitments worth around Rs 850 crore ($103.91 million) so far, according to the bankers.
India’s Larsen & Toubro plans to raise funds through the sale of commercial papers maturing in three months, three merchant bankers said on Thursday.
The company will offer a yield of 7.00% on the issue, and has received commitments worth around Rs 500 crore ($61.09 million) so far, the bankers said.
The notes are rated A1+ by Crisil.
The state-run company will offer a yield of 7.00% on the issue for which it has received commitments worth around Rs 500 crore ($61.08 million) so far, the bankers added.
The notes are rated A1+ by ICRA.
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