March 16, 2025
India New Issue-PFC accepts bids for multiple tenor bonds, bankers say -March 13, 2025 at 03:27 am EDT
 #IndiaFinance

India New Issue-PFC accepts bids for multiple tenor bonds, bankers say -March 13, 2025 at 03:27 am EDT #IndiaFinance

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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