Cash News
LIC Housing Finance raised Rs 1,050 crore through bonds maturing in 5 years at a coupon rate of 7.75 per cent on Thursday. The company was aiming to raise up to Rs 3,000 crore. The issue had a base size of Rs 1,000 crore and a greenshoe option of Rs 2,000 crore.
The greenshoe option gives the underwriter the right to sell investors more bonds than planned if the demand is higher than expected.
Market participants said that the issuers received a total of 10 bids amounting to Rs 1,050 crore at 7.75 per cent, which they were comfortable paying.
“They were comfortable at 7.75 per cent and they accepted the amount which was bid at that level,” a dealer at a state-owned bank said. “They chose to stick to the base amount,” he added.
The arrangers of the issue were ICICI Bank and ICICI Securities Primary Dealership.
First Published: Aug 22 2024 | 8:20 PM IS