Page 13 - Bonds

FPIs pull out of debt, selling pressure may continue until bond inclusion

Selling pressure may continue until India's inclusion in JPM index in June

Power Grid Corp board approves plan to raise Rs 12,000 cr via bonds

State-owned Power Grid Corporation of India board on Wednesday approved a proposal to raise up to Rs 12,000 through the issuance of bonds in one or more tranches in 2024-25. "Committee of Directors for Bonds in their meeting held on today i.e. on 17th April 2024 has approved the raising of Bonds as Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable Powergrid Bonds Issue(s) during FY 2024-25 in one or more tranches/series up to Rs 12,000 crore," a BSE filing said. Power Grid Corporation is the country's largest electric power transmission utility. It operates 86 per cent of Inter-Regional networks. It is engaged in the bulk transmission of power across states in the country.

Euro zone bond yields steady as traders assess interest rate expectation

The German 2-year bond yield, most sensitive to expectations for policy rates, rose 1.3 bps to 2.94%, after briefly rising to an almost one-week high

India bond yields steady; focus on oil prices amid West Asia tension

The yield on the benchmark Indian 10-year note ended at 7.1779%, after closing at 7.1794% in the previous session

LS polls: Of filial bonds, sibling rivalries and ideological obligation

Family dynamics and political allegiances reflect both individual ambitions and familial ties ahead of the Lok Sabha polls

India 10-year bond yield hits over 2-month high tracking US peers surge

India's headline retail inflation print is seen at 4.7% on-year in March, the lowest since May 2023, amid easing core inflation, Barclays said

Govt bond yield surges to two-month high tracking rise in US yield

Market participants said that the 7.12 per cent yield on the benchmark bond faces technical resistance and it might sustain as long as US yields do not surge further

Inclusion in key global bond indices boosts money flows into India

Corporate bonds have also benefited from flows into government debt as the former is largely priced off sovereign notes

'I-T notice to Cong on orders of Centre after electoral bonds scam bust'

Mumbai Congress chief Varsha Gaikwad on Sunday dubbed the fresh notice from the income tax department for payment of Rs 1,823 crore a bid for extortion and an act of revenge by the Central government after the BJP's electoral bonds "scam" was exposed. "The Income Tax notice was issued on the orders of the Central government. Why didn't the I-T department serve a notice to the BJP?" Gaikwad questioned while speaking to reporters. She alleged the BJP-led "dictatorial regime" was making a last-ditch attempt to weaken the Congress financially sensing imminent defeat in elections. "After freezing all bank accounts of the Congress party, the I-T department has sent a notice of Rs 1,823 crore," the Congress MLA said. She said ahead of the poll code, the I-T department froze 11 bank accounts of the Congress and took out Rs 135 crore directly. "Another notice of Rs 1,823 crore was served after the election schedule was announced," she added. "All this has been done out of revenge after the

Jaiprakash Associates plans to restructure bonds worth $120 million

Crisis-hit Jaiprakash Associates, which is into cement and construction businesses, on Saturday said around 92 per cent of bondholders have given consent for restructuring of foreign currency convertible bonds (FCCBs) worth USD 120 million, which were issued by the company and due for payments in 2020 and 2021. In February, the debt-ridden company had announced plans to restructure these bonds. On February 27, Jaiprakash Associates informed that the company has executed a non-binding term sheet and related accession agreements with an aggregate of about 70 per cent of the holders of (i) the USD 38,640,000 FCCBs due September 2021 (Series A Bonds); and (ii) the USD 81,696,000 amortising FCCBs due September 2020 (Series B Bonds). The agreements contain the primary terms of the proposed restructuring of such bonds. In a regulatory filing on Saturday, the company apprised that more bondholders have accorded their consent to the bond restructuring by signing an accession agreement with

PNB board approves Rs 10,000 crore fundraising in FY25 by issuing bonds

State-owned Punjab National Bank on Thursday said it will raise Rs 10,000 crore by issuing bonds in the next fiscal. "The Board of Directors of the Bank, in its meeting held today, has approved raising of capital for an amount up to Rs 10,000 Crore through Basel III Compliant Bonds (Additional Tier-I Bonds up to Rs 7,000 Crore and Tier- -II Bonds up to Rs 3,000 Crore), to be raised in one or more tranches during FY 2024-25," PNB said in a regulatory filing. Shares of PNB closed at Rs 124.35 on the BSE, up 1.30 per cent.

IREDA Board approves proposal of Rs 24,200 crore borrowing for FY25

State-owned Indian Renewable Energy Development Agency Ltd's (IREDA) board on Thursday approved a proposal of Rs 24,200 crore borrowing for 2024-25. The borrowing includes fundraising through bonds, perpetual debt instruments (PDI), term loans, commercial papers, and external commercial borrowings (ECB), a regulatory filing said. According to the filing, the Board of Directors, in its meeting held today -- Thursday, March 28, 2024 -- inter-alia has approved the borrowing programme of up to Rs 24,200 crore for FY 2024-25. Further, the Ministry of New & Renewable Energy (MNRE) vide office order dated March 27, 2024, has conveyed the Order of Appointments Committee of the Cabinet (ACC) dated March 15, 2024, regarding entrustment of additional charge of the post of Director (Technical), IREDA, to Bijay Kumar Mohanty, Director (Finance), IREDA, for a period of 6 (six) months from March 5, 2024, or till the appointment of regular incumbent, or until further orders, whichever is the ...

Bank of India to raise Rs 10,000 cr through long-term infrastructure bonds

State-owned Bank of India (BoI) on Wednesday said its board has given approval to raise Rs 10,000 crore through long-term infra bonds to fund infrastructure projects. The fund would be raised in 2024-25, BoI said in a regulatory filing. Recently, many banks including SBI have issued infrastructure bonds to secure funds that are solely dedicated to advancing various infrastructure development projects. These bonds help in building roads, bridges, airports, power plants, and telecommunications networks etc and addressing the infrastructure deficit of the country.

Nabfid opts for Rs 10,000 cr credit lines over bond issuance to raise money

CRISIL Ratings had assigned an "AAA" rating for non-convertible debentures (NCDs) aggregating Rs 10,000 crore

Govt plans to borrow Rs 7.5 trillion from market in first half of FY25

The Centre is planning to raise Rs 7.5 lakh crore through market borrowing in the April-September period of 2024-25 to fund the revenue gap to push economic growth, the finance ministry said on Wednesday. Out of gross market borrowing of Rs 14.13 lakh crore estimated for 2024-25, Rs 7.5 lakh crore, or 53 per cent, is planned to be borrowed in the first half (H1), an official statement said. Finance Minister Nirmala Sitharaman in interim Budget proposed to borrow Rs 14.13 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year. This is lower than last year's gross borrowing estimate of Rs 15.43 lakh crore, which was the highest ever. "The gross and net market borrowings through dated securities during 2024-25 are estimated at Rs 14.13 lakh crore and Rs 11.75 lakh crore, respectively. "Both will be less than that in 2023-24. Now that private investments are happening at scale, the lower borrowings by the central government will facilitate larger .

38 corporates donated Rs 2,004 cr to BJP via electoral bonds: Priyanka

She added for the first time in the country's history, a sitting government turned all the agencies at its disposal, as well as the entire system of the country into an 'extortion racket'

TVS Holdings to raise up to Rs 650 crore through NCDs next fiscal

Auto component firm TVS Holdings on Thursday said its board has approved a proposal to raise up to Rs 650 crore next fiscal through non-convertible debentures. The company's board also declared an interim dividend of Rs 94 per share of Rs 5 each, absorbing a sum of Rs 190 crore in the current fiscal. TVS Holdings, formerly known as Sundaram Clayton, is one of the largest auto components manufacturing and distribution groups in the country. It is a leading supplier of aluminium die castings to the automotive and non-automotive sector. Shares of the company on Thursday ended 2 per cent up at Rs 8,098 apiece on the BSE.

'Lenders to chase corporate bonds as new investment rules kick in'

Currently banks can hold up to 23% of their deposits under HTM as investments in government bonds and state debt and this cap will be removed in April

Bond yields changed little ahead of US Federal Reserve's rate decision

The benchmark 10-year yield ended at 7.0918%, following its previous close of 7.0981%

Infra lender NaBFID considers bond sale to raise up to $4.8 billion

NaBFID, as the institution is called, is likely to sell bonds with tenors spanning from 10 to 20 years in the financial year starting April 1, the people said