off-the-wire

India New Issue-NHB sets coupon on over 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 21 (Reuters) - India's National Housing Bank has set a 7.42% coupon on its bonds maturing in three years and 10 days, three bankers said on Friday. The company has accepted bids worth 20 billion rupees
($243.4 million) for this issue, for which it had invited bids from investors and merchant bankers earlier in the day. The issue was fully subscribed. The bonds are rated AAA by CRISIL and ICRA and the issue will be settled next week. The notes have put and call options at the end of the one year and one day. In March, NHB raised 19 billion rupees through bonds maturing in three years and 10 days at a coupon of 7.77%, and this issue had a put and call option at the end of one year.


($1 = 82.1600 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Savio D'Souza)

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