off-the-wire

India New Issue-India Infradebt accepts bids for multiple tenor bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 21 (Reuters) - India Infradebt has accepted bids worth an aggregate of 7 billion rupees ($85.29 million) for bonds maturing in five years and three months, and in 10 years, three merchant bankers said on Friday.


The infrastructure finance company has accepted bids worth 6 billion rupees for over five-year bonds and 1 billion rupees for 10-year bonds, they said. It will pay an annual coupon of 8.05% and 8.04% on these issues, respectively, and had invited bids from bankers and investors earlier in the day.


The notes are rated AAA by Crisil and ICRA and the issues will be settled next week. In December, the company raised 9.40 billion rupees selling bonds maturing in five years at an annual coupon of 7.87%. ($1 = 82.0720 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Shinjini Ganguli)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.