NABARD to issue over 3-year bonds, bankers say
India's National Bank for Agriculture and Rural Development (NABARD) plans to raise 70 billion rupees ($810.71 million), including a greenshoe option of 50 billion rupees, through the sale of bonds maturing in three years, two months and 17 days, three bankers said on Tuesday.
NABARD has invited coupon and commitment bids from bankers and investors on Thursday, they said.
The state-owned company did not immediately respond to a Reuters request for comment.
Here is the list of deals reported so far on July 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NABARD | 3 years 2 months and 17 days | To be decided | 20+50 | July 24 | AAA (Crisil, India rating) |
Godrej Seeds and Genetics | 3 years and 3 months | To be decided | 20 | July 23 | AA (Icra) |
SIDBI | 3 years and 3 months | To be decided | 15+45 | July 23 | AAA (Crisil, Care) |
Embassy Office Parks REIT | 10-year | 7.25 (payable quarterly) | 19+1 | July 23 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 86.3440 Indian rupees)
