India New Issue-NABARD to reissue January 2028 bonds - bankers

Kitco Media
By Reuters
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Reuters
MUMBAI, March 8 (Reuters) - India's National Bank for Agriculture and Rural Development (NABARD) plans to raise at least 20 billion rupees ($243.7 million) through the reissue of 7.68% January 2028 bonds, three merchant bankers said on Wednesday. The state-run company has invited bids for yields from bankers and investors on Friday. Bidding will take place on the Bombay Stock Exchange's electronic platform between 10:30 a.m. IST and 11:30 a.m. IST, they said. The bonds are rated AAA by Crisil and ICRA, and the issue will be settled on Monday. The issue also has a greenshoe option to retain an additional 30 billion rupees. In February, NABARD raised 50 billion rupees through the reissue of 7.58% July 2026 bonds at a yield of 7.83%.


($1 = 82.0650 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)

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