off-the-wire

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

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 21 (Reuters) - India's National Housing Bank (NHB) plans to raise at least 5 billion rupees ($60.42 million) through bonds maturing in three years and 10 days, three merchant bankers said on Tuesday.


The company has invited bids from bankers and investors on Thursday and the bidding will take place on the Bombay Stock Exchange's electronic platform between 11:00 a.m. IST and 1:00 p.m. IST.


The issue has a greenshoe option to retain an oversubscription of up to 15 billion rupees.


The bonds are rated AAA by CRISIL and ICRA and have a call option at the end of the first year. The issue will be settled on Feb. 27. In June 2022, NHB had raised 10 billion rupees via bonds maturing in three years and two months at an annual coupon of 7.34%. ($1 = 82.7490 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)

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