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India New Issue-LIC Housing Finance accepts bids for 10-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 20 (Reuters) - India's LIC Housing Finance has accepted bids worth 11.50 billion rupees ($139.2 million) for bonds maturing in 10 years, three merchant bankers said on Monday.


The housing finance company will pay an annual coupon of 7.95% on this issue, for which it had invited bids from bankers and investors earlier in the day.


The bonds are rated AAA by CRISIL and CARE Ratings, and the issue will be settled on Tuesday. The issue had a base size of 10 billion rupees and a greenshoe option to retain an additional 20 billion rupees. Earlier this month, the company had raised 8 billion rupees selling bonds maturing in two years, six months, and 11 days at an annual coupon of 7.82%. ($1 = 82.6440 Indian rupees) (Reporting by Bhakti Tambe; Editing by Dhanya Ann Thoppil)

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