Page 11 - Bonds

Indian sovereign bond inflows cool for second week amid index inclusion

Inflows into the so-called fully accessible route bonds, slowed to 35.9 billion rupees ($430 million) in the week through July 5, from 46.6 billion rupees in the previous week

Debt funds set to hit mother lode with double-digit gains in 2024

Easing G-sec yields put long-duration, gilt funds on winning track

Greenko Group gets $743 million credit line to refinance dollar bonds

The clean energy company, backed by Singapore's GIC sovereign wealth fund, will draw on the newly sanctioned credit line to refinance two sets of dollar bonds maturing in January and July 2025

Indian govt bond yields marginally down as US peers come off highs

Investors continue to gauge the pace of foreign inflows into Indian government bonds over the next few days after an underwhelming response so far

Wall Street maps out what a Trump election win would mean for bond market

Buy-side investors like Jack McIntyre, a portfolio manager at Brandywine Global Investment Management, are increasingly taking note.

NaBFID raises Rs 5,000 cr via bonds, gets oversubscribed by 6 times

The National Bank for Financing Infrastructure and Development (NaBFID) on Tuesday said it has raised Rs 5,000 crore by issuance of listed bonds. The issue received overwhelming response from the investors with bids of Rs 12,287 crore, NaBFID said in a regulatory filing. The bonds were oversubscribed 6 times, against the base issue of Rs 2,000 crore. The unsecured non-convertible, 'AAA' rated with stable outlook, debt securities have been issued at an annualized coupon rate of 7.43 per cent for a 10 year-tenure. This represents a spread of 26 basis points over the corresponding Financial Benchmarks India Pvt Ltd (FBIL) GSec par yield curve, it said, adding, the total number of bids received was 131, indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, banks etc indicating the trust of investors across segment, it said. "This issuance is also very significant as NaBFID has been successful in raisi

RBI keeps floating rate savings bond interest rate for July-Dec at 8.05%

Interest rate on bonds is reset twice a year, with investors receiving interest payments semi-annually on January 1 and July 1

State bonds, treasury bills supply for Q2 along the expected lines

States and Union Territories also plan to borrow up to Rs 2.63 trillion through state government securities over the same period

Demand for longer-duration bonds likely to rise: ICICI Prudential Life

Upon inclusion, Indian bonds will have the highest duration among the index members at 7.03 years, with yield-to-maturity at 7.09%, according to a recent JPMorgan note

SBI raises Rs 10,000 cr via 15-year infrastructure bonds at 7.36% coupon

The coupon of 7.36 per cent represents a spread of 21 basis points (bps) over the corresponding government bond curve

Ireda raises Rs 1,500 crore via bonds, oversubscribed by 2.65 times

State-owned Indian Renewable Energy Development Agency (Ireda) on Friday said it has raised Rs 1,500 crore through a bond issue, which was oversubscribed by 2.65 times. The bond issuance, which consisted of a base issue of Rs 500 crore and a green shoe option of Rs 1,000 crore, received an overwhelming response from investors, and oversubscribed 2.65 times, a company statement said. According to the statement, Ireda successfully raised Rs 1,500 crore on Friday through the issuance of bonds. Funds have been raised at an annual interest rate of 7.44 per cent for a tenure of 10 years and 2 months. Ireda Chairman & Managing Director Pradip Kumar Das said, "...The oversubscription by 2.65 times underscores the trust and confidence that investors have in Ireda's vision and its crucial role in driving the renewable energy growth in the country". "This successful capital raising will enable us to further strengthen our efforts in financing green energy projects, contributing to India's .

Go long on 30-year bonds to play India story, says veteran fund manager

The government's push for fiscal discipline, compression in the current account deficit and the central bank's focus on inflation have strengthened the case for yields to drop

SBI to raise up to Rs 20,000 cr via long-term bonds to fund infra projects

The bonds to be issued in tranches depending on market conditions

SBI plans to raise Rs 10,000 cr via infrastructure bonds, say bankers

This will be the lender's first bond issuance and the country's first infrastructure bond sale this financial year

Foreign banks bought Indian govt bonds worth Rs 8,038 cr on Jun 13: Data

These banks stepped up purchases after a softer-than-expected US inflation print ramped up rate cut bets, with India's inclusion in JPMorgan's emerging market debt index also a factor, traders said

Sebi bats for tax benefits in 'zero coupon zero principal bond' investments

To encourage social sector spending, markets regulator Sebi has suggested that the government should allow tax benefits to companies investing in zero coupon zero principal bonds issued by not-for-profit organisations listed at the social stock exchange. Talking to reporters here on Friday, Sebi's Whole Time Member Kamlesh Chandra Varshney said the regulator has already sent a proposal to the finance ministry and is hopeful of getting the approval. "We have given the proposal to the government that corporate entities who invest in ZCZPs should get the benefits of CSR (Corporate Social Responsibility). We are hopeful that the government will soon approve the proposal," Varshney said at an event organised by NSE on SSE here. Moreover, the CBDT has already clarified that investors or donors buying such bonds will get the tax benefits under section 8OG of Income Tax rules, he added. These measures will be pertinent towards inclusive growth of the social sector and will help build trust

Citigroup sees India's allure enticing global bond funds to stay put

India's debt yields are higher than China's or the US, and its economy is the fastest-growing among the Group of 20. There's little reason for active investors who've poured money in to reverse course

Bharti Airtel converts $49.87 mn worth of foreign debt bonds into equity

Telecom operator Bharti Airtel has converted USD 49.87 million worth of foreign debt bonds issued in January 2020 into equity, the company said on Tuesday. Airtel had raised USD 1,000 million through foreign currency convertible bonds in January 2020 that were convertible into the company's fully-paid up equity shares of Rs 5 each at any time on or after February 27, 2020, and up to the close of business hours on February 7, 2025, at the option of the FCCB holders. "We wish to submit that upon receipt of notices for conversion of FCCBs of principal value of USD 49.87 million from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today i.e. on June 11, 2024, approved the allotment of 6,934,266 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holder(s) of FCCBs," Airtel said in a regulatory filing. The company said that with this transaction, the outstanding principal value of FCCBs listed on t

Nabard may raise Rs 30,000 crore through bonds in FY25, says CRISIL

The money raised through the market covering bonds and money market instruments had about 51.5 per cent share in total borrowings by Nabard at the end of March 2024

Benchmark bond yield sees biggest daily rise in 8 months on poll results

India's benchmark 10-year yield ended at 7.0382%, following its previous close at 6.9438%. The yield also witnessed its biggest single-session climb since Oct. 6