Page 12 - Bonds

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

Black money's impact on polls to rise, should find bond alternative: Shah

Home Minister Amit Shah believes that the influence of black money will increase during the ongoing Lok Sabha elections following the Supreme Court's decision to scrap the electoral bond scheme, and said it is for Parliament to decide on an alternative. If the impact of black money rises, then an alternative should be found, he said. He told PTI in an interview on Saturday that the scheme, which allowed donors to fund political parties anonymously by purchasing bonds from the SBI, was scrapped at an important time. The Supreme Court had struck down the scheme in February, a month before the Lok Sabha elections were announced. Replying to a question on the issue, he said, "I believe and this is my guess that it will increase the influence of black money in elections and politics. When political parties submit their account for this fiscal year, then how much money is by cash donation and how much is through cheque will be known. The donation figure by cheques had reached 96 per cent

Indian bonds underpricing global index move, says ICICI Prudential AMC

India will be included in JPMorgan Chase & Co.'s key emerging market bond index as of next month

Bond traders hanker for short-term borrowing cuts as buybacks fail

Banking system liquidity has stayed in deficit for last four weeks, coinciding with start of the first phase of general elections, with average daily average deficit in May rising to Rs 1.2 trillion

China issues first batch of 30-year stimulus bonds at yield of 2.57%

The bid-to-cover ratio for the first tranche of the special bonds was 3.91 times, suggesting solid demand for such bonds

Government announces fresh buy back of bonds despite lukewarm response

The central bank said it would buy back Rs 60,000 crore worth of securities, maturing this financial year, on May 21

Around 700 surety bonds worth Rs 3,000 cr issued by Insurance cos so far

About 700 insurance surety bonds valued at around Rs 3,000 crore have been issued by different insurance companies so far, an official statement said on Wednesday. The statement further said state-owned NHAI has so far received 164 insurance surety bonds, consisting of 20 bonds for performance security and 144 bonds for bid securities. Insurance surety bonds are financial instruments, where insurers act as 'surety' and provide the financial guarantee that the contractor will fulfil its obligation as per the agreed terms. Wider adoption of such instruments will help to strengthen infrastructure development in the country. According to the statement, the Ministry of Finance has made insurance surety bonds at par with bank guarantees for all government procurement, and NHAI has been urging insurance companies and contractors to use insurance surety bonds as an additional mode of submitting bid security, and /or performance security. NHAI on Wednesday organised a workshop in New Delhi

Global funds eye India's maturity bonds betting on RBI's policy shift

The proportion of foreign money allocated to local bonds due in 10 years or more climbed to 17 per cent last week, up from just 11 per cent in September

REC plans to raise up to Rs 6,000 crore through two bonds on Friday

The company has invited bids for the same on Friday. The NCDs have been given the highest credit rating of 'AAA' with a 'Stable' outlook by ICRA, and CRISIL

Benchmark govt bond yields edge higher to 7.12% on profit booking

The benchmark 10-year yield ended at 7.1284%, following its previous close of 7.1068%, the lowest since April 10

Short-term bond yields soften ahead of govt's buyback on Thursday

RBI announced its plan to repurchase securities worth Rs 40,000 cr

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

The securities offered for buyback are 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, the Reserve Bank of India said in a statement

Govt bond yields edge lower as oil prices stabilises, awaits fresh triggers

The benchmark Brent crude contract, which had crossed $92 per barrel earlier this month on fears of an escalation in the Middle East conflict

Manappuram Finance to raise up to $500 mn via external commercial borrowing

Gold loan financier Manappuram Finance on Friday said its board has approved raising of up to USD 500 million (about Rs 4,100 crore) by way of external commercial borrowings (ECBs). The funds would be raised in one or more tranches, Manappuram Finance said in a regulatory filing. In the filing, the company said its financial resources and management committee of the board at its meeting held on April 19, 2024, has approved the fundraising proposal. Last month, the company approved fund raise by issuance of redeemable non-convertible debentures (NCDs) up to the overall limit of Rs 6,000 crore by way of private placement or public issue in one or more tranches to meet business growth. This is the fundraise plan for the financial year 2024-25, the company had said.