Page 13 - Bonds

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.

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