off-the-wire

India New Issue-HUDCO to issue over 3-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 13 (Reuters) - India's Housing and Urban Development Corp plans to raise at least 5 billion rupees ($60.54 million) through a sale of bonds maturing in three years and three months, three merchant bankers said on Monday.


The state-run company has invited coupon and commitment bids from bankers and investors on Tuesday, they said. The notes are rated AAA by CARE, ICRA and India Ratings, and the issue will close for subscription later this week.


The issue will mature in May 2026 and has a greenshoe option to retain an additional 15 billion rupees.


In December, the company had raised 4.70 billion rupees through bonds maturing in 10 years and four months at an annual coupon of 7.52%. ($1 = 82.5850 Indian rupees) (Reporting by Dharamraj Dhutia; editing by Uttaresh.V)

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