Page 2 - Bank Bonds
Buoyed by firm demand, HDFC Bank mulls fresh Rs 5,000-cr Tier 2 bond sale
The quantum raised through Tier 2 bonds is set to rise much further in coming days as Axis Bank is slated to sell Rs 12,000 crore of such instruments on Friday
 "Buoyed by firm demand, HDFC Bank mulls fresh Rs 5,000-cr Tier 2 bond sale")
ICICI Bank raises Rs 5,000 cr via infrastructure bonds for funding projects
The base issue size for ICICI Bank's infra bonds was Rs 1,000 crore with green shoe option of Rs 4,000 crore
 "ICICI Bank raises Rs 5,000 cr via infrastructure bonds for funding projects")
ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales
ICICI likely to issue long-term bonds, Axis mulls infra bond sale
 "ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales")
South Indian Bank's move on tier-2 bond won't disrupt sector: Fitch
Lender decision to not redeem the bonds does not indicate any weakness in capital position, says ratings agency
 "South Indian Bank's move on tier-2 bond won't disrupt sector: Fitch")
SBI's maiden infra bond issue for Rs 10,000 cr oversubscribed 3.27 times
10-year paper priced at 7.51%, or about 17 bps above benchmark g-sec yield
 "SBI's maiden infra bond issue for Rs 10,000 cr oversubscribed 3.27 times")
PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds
The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag
 "PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds")
SBI likely to raise Rs 10,000 crore through infrastructure bonds
The planned issuance worth Rs 10,000 crore includes a greenshoe option of Rs 5,000 crore, the bank said
 "SBI likely to raise Rs 10,000 crore through infrastructure bonds")
SBI to consider raising $1.2 billion through infrastructure bonds
The fundraising, if approved, would be through a public issue or private placement during fiscal 2023, the bank added
 "SBI to consider raising $1.2 billion through infrastructure bonds")
Union Bank likely to sell tier-2 bonds worth Rs 2,000 crore next week
Tier-2 bond sale plan comes amid sharp decline in bond yields
 "Union Bank likely to sell tier-2 bonds worth Rs 2,000 crore next week")
Banks go slow on bond sales as rising interest rates push up costs
The decision to go slow on these fund-raising plans - despite the booming credit growth - came at a time when bond market conditions turned turbulent
 "Banks go slow on bond sales as rising interest rates push up costs")
SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%
Lender claims overwhelming response from investors, with bids of Rs 9,647 crore; issue oversubscribed 5x against base size of Rs 2,000 crore
 "SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%")
SBI sells largest AT-1 tranche at lowest rate for any bank so far this year
The bank had notified an amount of Rs 7,000 crore to be raised through a single tranche of AT-1 bonds in order to augment capital.
 "SBI sells largest AT-1 tranche at lowest rate for any bank so far this year")
HDFC Bank's Rs 3,000-crore AT1 bonds get FY23's best rate at 7.84%
Canara Bank plans Rs 1,500-2,000 cr AT1 sale; Axis Bank, too, mulls fundraise
HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances
The bonds will have a call option from the fifth year onwards and are rated AA+ by CRISIL, CARE and India Ratings, sources said
 "HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances")
Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges
Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges. The bank allotted a total of 2,474 unsecured Basel III additional tier I perpetual non-convertible bonds, valuing Rs 1 crore each on Friday. Perpetual bonds carry no maturity date and they can be treated as equity rather than debt. Even as such bonds are not redeemable, they pay a steady flow of interest forever. The bonds are rated AAA with stable outlook by Icra and India Ratings, the bank said in a regulatory filing.
 "Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges")
BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers
Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms
 "BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers")
SBI likely to issue Rs 7,000-cr additional tier-I bonds by August-end
Last month, SBI's board had provided approval for raising up to Rs 11,000 crore via additional tier-I and tier-II bonds to meet regulatory requirements and support business growth
Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week
Union Bank plans to raise up to Rs 2,000 crore while Canara Bank plans to issue AT-1 bonds worth up to Rs 2,000 crore, say sources
 "Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week")
SBI, Canara, Bank of Baroda plan to raise Rs 7,500 crore through AT-1 bonds
IOB also likely to tap debt capital market, say sources, though quantum of fund-raising being planned isn't clear
 "SBI, Canara, Bank of Baroda plan to raise Rs 7,500 crore through AT-1 bonds")
PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%
Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%
 "PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%")