Financial Insights That Matter
MUMBAI, March 13 (Reuters) - India's Power Finance Corp has accepted bids
worth 56.85 billion rupees ($653 million) for multiple maturity bonds, three bankers said on
Thursday.
The state-run company has accepted bids worth 16.85 billion rupees for one year and one
month bonds and 40 billion rupees for three year and four month bonds.
It will pay an annual coupon of 7.75% and 7.45% on these issues, respectively, and had
invited coupon and commitment bids for both the options earlier in the day.
PFC did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 13:
Issuer Tenure Coupon (in %) Issue size (in Bidding Rating
bln rupees)* date
PFC 1 year and 1 7.75 16.85 March 13 AAA (Crisil,
month Care, Icra)
PFC 3 year and 4 7.45 40 March 13 AAA (Crisil,
months Care, Icra)
2 years To be decided 10+30 March 17 AAA (Crisil,
LIC Housing Care)
Finance
2 years and To be decided 4+12 March 17 AAA (Icra)
Can Fin 2 months
Homes
* Size includes base plus greenshoe for some issues
($1 = 87.0040 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
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