IDBI Bank has raised Rs 2,500 crore through Basel-III-compliant additional Tier-I (AT-I) bonds to enhance its capital adequacy. The coupon (interest rate) for AT-I bonds is 10.75 per cent payable annually.
Tag: bonds
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India Infoline to issue Rs 10.5 bn worth debentures
India Infoline Finance would issue non-convertible debentures worth Rs 525 crore with an option to retain over-subscription of a similar amount. In other words, the non-banking finance arm of India Infoline would mop up a maximum of Rs 1,050 crore through this issuanc
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Power sector debts at `972,900 cr
The total outstanding loans from banks/financial institutions (including bonds) for all the utilities in the power sector during the years 2009-10 to 2011-12 stands at Rs Rs 972,900 crore. As per a report by the Power Finance Corporation (PFC), during 2009-10
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Net loss of IOC declines to Rs 30.9 bn in June quarter
During Apr-Jun 2013-14, the net loss of Indian Oil Corporation (IOC) declined to Rs 3,093 crore from Rs 22,451 crore in the corresponding quarter previous year. The company managed to reduce its loss as it received compensation for selling fuel below market cost from the government
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Ministry allows sovereign funds to invest in tax free bonds
Media reports indicate that the finance ministry allowed sovereign wealth funds to invest in debt instruments floated by state-run companies. It may be noted that the government allowed 13 state-run firms to raise around Rs 48,000 crore by selling tax- free bonds in 2013-14. The fund would be used for infrastructure such as roads, ports and power plants
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Piramal Enterprise to raise Rs 3.75 bn via CPs
Piramal Enterprise plans to raise Rs 375 cr through issue of commercial papers in 3 maturities - October maturity CPs for Rs 50 cr, early November papers for Rs 225 cr and December maturity papers for Rs 100 cr. The paper would carry an interest of 11.75 percent. The company has operations in several segments within healthcare, life sciences and financial
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IOC raises $500 mn via bond issue
Indian Oil Corporation (IOC) raised $500 mn through issue of 10 year dollar denominated bonds at a coupon of 5.75 percent. The state-run oil marketing company (OMC) roped in Deutsche Bank, HSBC and Standard Chartered Bank as the joint book-runners for the bond sale. Around 400 investors across the globe offered bids worth about $3.5 bn for subscribing to the bonds. The bidd
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Indian Oil issues $500 mn worth 10-year bonds
Indian Oil Corporation on July 29 said that it has issued $500 million worth bonds for a tenor of 10 years. This is the public sector firmÂ’s fourth international bond issue in the past three-and-a-half years. Last month, the Federal Open Market Committee indicated that US Fed would moderate the asset purchase based on improvement in the US economy. These indications were not taken favourably and markets went into sell off mode.
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Essar Power issues bonds to refinance debt
In order to refinance its existing debt, Essar Power mopped up Rs 750 crore by issuing rupee denominated bonds. The company, which is part of the London-listed Essar Energy, has a total debt of around Rs 16,500 cr. The bond offering would increase the maturity timeframe of its debt and also enable the firm save on inter
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RBI takes further steps to contain rupee weakness
In order to contain the depreciation of rupee against the dollar, the Reserve Bank of India (RBI) raised the cost of borrowing under the marginal standing facility by 200 basis points. Further, the central bank restricted the amount of money that banks can borrow from its LAF window to just 1 per cent of deposits at Rs 75,000 crore citing the need to "restore stability to the foreign exchange mar