Hudco raises Rs 2,910 crore; Sidbi garners Rs 6,000 crore through bonds

Cut-offs rise by 7-10 bps since rate cut

State-owned Housing and Urban Development Corporation (HUDCO) on Monday raised Rs 2,910 crore through bonds maturing in 10 years at a cut-off of 7.29 per cent, sources said. Additionally, the Small Industries Development Bank of India (SIDBI) raised Rs 6,000 crore through bonds maturing in four years and one month at 7.42 per cent.

 

According to market participants, yields on AAA-rated corporate bonds have hardened by 7 to 10 basis points following the 25 bps policy rate cut by the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI).

 

Before the rate cut last week, state-owned National