HDB Financial Services accepts bids for multiple tenor bonds, bankers say
India's HDB Financial Services has accepted bids worth 11 billion rupees ($127 million) for the sale of multiple tenor bonds, three bankers said on Wednesday.
The non-banking finance company will reissue September 2027 bonds at a yield of 7.6184%, and do a fresh issue of bonds maturing in three years and one month at 7.65% coupon, according to the bankers.
HDB Financial Services did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on April 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HDB Financial | 3 years and 1 month | 7.65 | 10 | April 9 | AAA (Crisil, Care) |
HDB Financial Sept 2027 reissue | 2 years and 5 months | 7.6184 (yield) | 1 | April 9 | AAA (Crisil, Care) |
NABARDSept 2028 reissue | 3 years and 5 months | To be decided | 20+50 | April 15 | AAA (Crisil, India rating) |
Axis Finance | 3 years and 2 months | 7.7320 | 4.65 | April 9 | AAA (India Ratings) |
Axis Finance March 2030 reissue | 5 years | 7.74 (yield) | 2.01 | April 9 | AAA (India Ratings) |
Bajaj FinanceApril 2035 reissue | 10 years | 7.55 (yield) | 12.50 | April 8 | AAA (Crisil) |
Bajaj Housing Finance | 10 years | 7.50 | 15 | April 8 | AAA (Crisil) |
LIC Housing Fin Feb 2030 reissue | 4 years and 10 months | 7.20 (yield) | 10 | April 8 | AAA (Crisil, Care) |
Cholamandalam Investment | 7 years | 8.75 | 5 | April 8 | AA+ (Icra, India Ratings) |
L&T Finance | 3 years and 2 months | 7.5934 | 1+4 | April 11 | AAA (India Ratings, Icra) |
L&T Finance March 2030 reissue | 5 years | To be decided | 1+4 | April 11 | AAA (Care, IcRA) |
*Size includes base plus greenshoe for some issues
($1 = 86.6170 Indian rupees)