off-the-wire

India New Issue-Tata Capital Housing Finance to issue over 3-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 6 (Reuters) - India's Tata Capital Housing Finance plans to raise at least 500 million rupees ($6.07 million) through bonds maturing in three years and three months, three merchant bankers said on Monday.


The housing financier will offer a coupon of 7.96% on the bond issue, for which it has invited bids from bankers and investors on Tuesday, they said.


The issue also has a greenshoe option to retain an oversubscription of up to 2.5 billion rupees.


The bonds, rated AAA by CRISIL, will mature on May 2026. The issue will close for subscription later this week.


In January, Tata Capital Housing Finance raised 8 billion rupees through the reissue of 6.50% June 2026 bonds at a yield of 7.97%.
($1 = 82.3330 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sohini Goswami)

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