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Bank of India raises Rs 5,000 crore via long-term infrastructure bonds
Money Control
·
1y ago
Medial
Bank of India raised Rs 5,000 crore through long-term infrastructure bonds at an interest rate of 7.54 percent per annum. The base issue size was Rs 2,000 crore with a green shoe option of Rs 3,000 crore. The bank received a total of 127 bids, amounting to Rs 15,318 crore, and selected 57 successful bidders for the issue. The funds raised will be used for long-term projects in infrastructure sub-sectors and affordable housing, following RBI guidelines. In May, the bank reported a 7 percent increase in net profit in the fourth quarter of FY24.
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Related News
SBI raises Rs 10,000 crore through infra bond sale
IndianStartupNews
·
1y ago
Medial
State Bank of India (SBI) has successfully raised Rs 10,000 crore through its fourth infrastructure bond issuance. The issue was oversubscribed by more than 5 times, with investors from various sectors participating. The funds raised will be used to enhance long-term resources for infrastructure and affordable housing projects. This issuance brings the total outstanding long-term bonds issued by SBI to Rs 39,718 crore. The bank has a AAA credit rating with a stable outlook from all domestic credit rating agencies.
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SBI raises Rs 10,000 cr via bonds to fund infra projects
YourStory
·
1y ago
Medial
State Bank of India (SBI) has raised Rs 10,000 crore through its fifth infrastructure bond issuance. The issue was oversubscribed by four times and attracted bids in excess of Rs 19,884 crore. The funds will be used to enhance long-term resources for funding infrastructure and affordable housing segments. SBI Chairman Dinesh Khara hopes that this issuance will develop a long-term bond curve and encourage other banks to issue longer-tenor bonds.
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HDFC Bank raises ₹7,425 crore via bonds to fund infra, housing projects
Livemint
·
1y ago
Medial
HDFC Bank has raised ₹7,425 crore through non-convertible bonds to finance infrastructure and affordable housing projects, as per a regulatory filing. The bank issued 742,500 bonds with a face value of ₹100,000 each. This move highlights HDFC Bank's commitment to supporting the development of crucial sectors in India.
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BoI to raise Rs 20,000 cr via infra bonds this fiscal
Economic Times
·
1m ago
Medial
Bank of India (BoI) plans to raise Rs 20,000 crore through infrastructure bonds in the current fiscal year to fund various infrastructure projects. This decision has been approved by the board as part of efforts to join other banks like SBI in raising funds dedicated to infrastructure development. Infrastructure bonds are preferred due to their exemption from regulatory reserve requirements, unlike AT-1 and Tier-2 bonds, making them a more attractive funding option.
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AU Small Finance Bank's board approves fundraise of Rs 11,000 crore
Money Control
·
1y ago
Medial
AU Small Finance Bank has announced a fundraise of Rs 11,000 crore. Of this, Rs 5,000 crore will be raised through private placement or qualified institutions placement (QIP), while another Rs 6,000 crore will be raised through the issue of bonds and non-convertible debentures. Private equity firm WestBridge Capital has also recently divested a 1.75% stake in the bank for Rs 845 crore. Additionally, YES Bank has approved its own fund-raising plans through the issue of debt securities.
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IndusInd Bank to consider raising funds via long-term bonds
Economic Times
·
21d ago
Medial
IndusInd Bank is considering raising funds through long-term bonds, a topic set for discussion in its board meeting on July 23. This move follows a $230 million loss due to previous misaccounting issues, which led to the resignation of its CEO and deputy in April. The bank is also exploring capital increases via depository receipts and qualified institutional placements as part of its recovery and growth strategy.
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NaBFID's loan sanctions to rise to Rs 3.2 lakh crore by end of FY25, says MD Rajkiran Rai
Money Control
·
10m ago
Medial
The National Bank for Financing Infrastructure and Development (NaBFID) is expected to increase loan sanctions to Rs 3.2 lakh crore by the end of the financial year. Rajkiran Rai, NaBFID's managing director, anticipates a surge in project flows in the second half of the year. Currently, the bank has Rs 1.2 lakh crore in sanctions and over Rs 50,000 crore in disbursements. Rai expects disbursements to reach Rs 93,000 crore by the end of the year. NaBFID is primarily funding projects in sectors such as infrastructure, energy, roads, and railways. The bank also plans to raise Rs 53,000 crore through bonds from the domestic market.
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Govt plans to buy back NHAI bonds worth Rs 50,000 - 70,000 crore to pare co’s debt
Money Control
·
11m ago
Medial
The Indian government is in discussions with long-term bondholders of the National Highways Authority of India (NHAI) for the prepayment of three NHAI bonds. This move is part of the government's plans to reduce NHAI's debt from around Rs 3.35 lakh crore to Rs 1 lakh crore. The Ministry of Road Transport and Highways is looking to spend around Rs 50,000 to Rs 70,000 crore for the buyback. The funds will be used to strengthen the highway network and reduce interest payments. Additionally, the government aims to attract private investments in the road and highway sector through PPP projects.
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Power Grid to raise Rs 6,000 crore via bonds, check stock reaction
Business Today
·
4m ago
Medial
Power Grid Corporation plans to raise Rs 6,000 crore through bonds issued via private placement. The bond issuance has a base size of Rs 1,500 crore with an oversubscription option of Rs 4,500 crore, bringing the total potential issue size to Rs 6,000 crore. The bonds have a 10-year tenure, annual interest payments, and will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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Should you invest in debt funds as interest rate cut inches closer? | Simply Save
Money Control
·
11m ago
Medial
The US Federal Reserve predicts that interest rates may start to decrease in September 2024, leading the Reserve Bank of India to potentially take rate action by December 2024. Indian bond markets remain stable and appealing due to strong macroeconomic fundamentals and demand-supply dynamics. Siddharth Chaudhary, Senior Fund Manager at Bajaj Finserv Mutual Fund suggests investing in long-term funds for retirement plans and medium-term funds for specific targets, as well as considering short-term funds and corporate bonds. The overall outlook remains positive for bonds, with expectations of rate cuts and a favorable demand-supply situation.
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