off-the-wire

India New Issue-HDB Financial Services accepts bids for multiple-tenor bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 17 (Reuters) - India's HDB Financial Services has accepted bids worth an aggregate of 28 billion Indian rupees ($341.88 million) for reissue of 7.49% January 2025 bonds and others through May 2025 bonds, three merchant bankers said on Tuesday. The company has accepted bids worth 13 billion rupees on the reissue and will offer a yield of 8.0370%, while it has accepted bids worth 15 billion rupees on the shorter tenor note and will offer a yield of 8.04%.


It had invited bids for both the bond issuances from investors and bankers on Thursday, and the issues will be settled later in the day.


The bonds are rated AAA by CARE Ratings. In March, HDB Financial Services raised 10.30 billion rupees through bonds maturing in three years and one month, and zero-coupon bonds maturing in five years. ($1 = 81.9010 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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