India New Issue-GIC Housing Finance accepts bids for bond issues, bankers say

Reuters2024-11-21

India New Issue-GIC Housing Finance accepts bids for bond issues, bankers say

MUMBAI, Nov 21 (Reuters) - India's GIC Housing Finance GICH.NS has accepted bids worth 6 billion rupees ($71.05 million) through the sale of bonds maturing in 19 months and 21 months, three bankers said on Thursday.

It will pay an annual coupon of 8.25% and 8.28%, respectively, and had invited bids for the issue on Tuesday, they said.

The coupon rate will be increased by 25 basis points for every notch downgrade in the credit rating.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 21:

Issuer	Tenure	Coupon (in %)	Issue size (in bln rupees)*	Bidding date	Rating
GIC Housing Finance	19 months	8.25	3	Nov. 19	AA+ (Crisil, Icra)
GIC Housing Finance	21 months	8.28	3	Nov. 19	AA+ (Crisil, Icra)
NABARD Feb 2028 reissue	3 years and 3 months	7.48 (yield)	36.80	Nov. 21	AAA (Crisil, Icra)
Century Joint Developments	4 years	10 (payable quarterly)	8.50	Nov. 25	C (Acuite Ratings)
LIC Housing Oct 2029 reissue	4 years and 11 months	To be decided	10+10	Nov. 22	AAA (Crisil, Icra)

*Size includes base plus greenshoe for some issues

($1 = 84.4475 Indian rupees)

(Reporting by Dharamraj DhutiaEditing by Abinaya Vijayaraghavan)

((Dharamraj.dhutia@tr.com))

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