Page 11 - Bonds

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

RBI plans to buy back Rs 30,000 crore worth of bonds on Thursday

The previous two auctions conducted by the RBI saw low participation

Canara Bank board okays fund raising of Rs 8,500 cr through bonds in FY25

State-owned Canara Bank on Friday said the board of the bank has given approval for raising Rs 8,500 crore through bonds to fund business growth in 2024-25. The decision in this respect was taken in a meeting held on Friday. The board of the bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing. Besides, it approved raising funds through Basel III Compliant Tier II Bonds to the extent of Rs 4,500 crore, it said.

Indian inflows set to pause following China's bond index playbook

Foreign investors are increasingly showing a preference for India's sovereign debt over China's to reap gains from the nation's faster economic growth

Indian benchmark bond yields marginally higher mirroring US peers

U.S. yields rose, with the 10-year yield rising above 4.55%, as uncertainty over the timing and magnitude of rate cuts by the Federal Reserve in 2024 persisted

Lenovo to issue $2 bn of convertible bonds to Saudi's Alat to repay debt

The world's largest maker of personal computers has become the latest Chinese firm to join a rush in Asia to raise capital through convertible bonds

RBI to buy back government bonds worth Rs 40,000 crore on Thursday

Bond market participants said that the auction is expected to witness tepid demand as banks might refuse to sell bonds at a loss

Govt will buy back sovereign bonds worth Rs 40,000 crore, says RBI

The securities offered for buyback are four government bonds with maturity dates in the second half of 2024, the Reserve Bank of India (RBI) said in a statement