Page 15 - Bonds

Asian bonds gain solid inflows on rate cut hopes amid US inflation concerns

India led the way with a robust influx of $2.39 billion into its bonds, the highest since August 2017, fueled by anticipation of its inclusion in JP Morgan's emerging market debt index this year

Future Consumer defaults on payment of Rs 133 crore towards debentures

Future Consumer Ltd (FCL) has defaulted on the payment of Rs 132.97 crore towards payment of principal and interest of Non-Convertible Debentures (NCD) issued by the company to CDC Emerging Markets. FCL had defaulted on payment towards interest amount of Rs 32.97 crore and principal amount of Rs 100 crore, according to a regulatory filing by the FMCG arm of the debt-ridden Future Group on Friday. "The company has been unable to service its obligations towards payment of principal and interest due on unlisted Non-Convertible Debentures issued by the company to CDC Emerging Markets Ltd," it said. The default happened on February 15, 2024. Future Consumer had sought deferment for payment of principal and interest amount due towards NCDs, the filing added. It had NCDs of Rs 200 crore for a tenure of seven years with a coupon rate of 11.07 per cent per annum. This was applicable from the date of allotment, which is February 15, 2018. FCL, part of the Kishore Biyani-led Future Group, i

Bond inclusion unlikely to trigger volatility: Ashima Goyal of RBI MPC

Goyal expects around $30 billion inflows on the back of the inclusion

Electoral bonds worth Rs 16k cr sold so far, BJP got nearly 55%, shows data

Electoral bonds have accounted for more than Rs 16,000 crore worth funds contributed to various political parties so far, a lion's share is estimated to have gone to the BJP, data shows. All political parties put together received more than Rs 12,000 crore till last fiscal since the introduction of the now-annulled electoral bond scheme in 2018, of which the ruling BJP got nearly 55 per cent or Rs 6,565 crore, according to the data available with Election Commission and Association for Democratic Reforms (ADR). While the party-wise data for the current fiscal 2023-24 would be available later after they file annual audit reports for the year, ADR put the collective amount of funds generated through sale of electoral bonds between March 2018 and January 2024 at Rs 16,518.11 crore. On an average, these bonds are estimated to account for over half of total contributions received by the parties, though it is more than 90 per cent in case of some regional parties that are in power in thei

Ex-Credit Suisse dealmakers are shaking up $1.3 trillion junk-bond market

Credit Suisse used to be a big arranger of CLOs - vehicles that buy up junk-rated company loans, bundle them together and sell them as bonds

SC to decide on validity of Centre's electoral bonds scheme on February 15

The Supreme Court is scheduled to pronounce its verdict on Thursday on a batch of petitions challenging the validity of the electoral bonds scheme. A five-judge Constitution bench headed by Chief Justice D Y Chandrachud had on November 2 last year reserved its verdict in the matter. The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring in transparency in political funding. According to the provisions of the scheme, electoral bonds may be purchased by any citizen of India or entity incorporated or established in the country. An individual can buy electoral bonds, either singly or jointly with other individuals. Only the political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1 per cent of the votes polled in the last elections to the Lok Sabha or a state legislative assembly are eligible to receive .

Israel need to sell record amount of bonds this year to fund war: Officials

Israel is under increasing pressure, including from the US, to wind down its operations on Gaza and ease the suffering of Palestinian civilians

Bond with Bharat: What activation of J P Morgan Index means for India Inc

While inflows into G-Secs is a given, the secondary effects of these in the corporate bond market are to be watched for

HDFC Bank raises $300 million through maiden sustainable finance bonds

Largest private sector lender HDFC Bank on Wednesday said it has raised USD 300 million in its maiden sustainable finance bond issue. The money raised is part of the USD 750 million bond-raise which was announced on Tuesday, a statement said, adding that the papers will be listed on the GIFT City. The USD 300 million sustainable finance bonds have been raised for a tenure of three years at a spread of 0.95 per cent over the US treasury, while the remaining USD 450 million will be repaid in five years at 1.08 per cent over the US Treasury, the statement said. The spreads are the tightest by an Indian issuer, it said. The bank said proceeds of the sustainable finance bond will be utilised for funding green and social loans in accordance with the sustainable finance, while the rest will be deployed for financing general banking activities. HDFC group head for treasury Arup Rakshit elaborated that the sustainable finance bonds funds will be prioritised for lending towards electric ...

India to remain on alert for 'hot money' after bond index inclusion

The aim will be to "prevent volatility or volatile inflows" but "never" to restrict outflows, Somanathan said, adding that "all possibilities are open to keep volatility in check.

Sales in global ESG bond market reach $150 billion in busiest January ever

Falling borrowing costs and seemingly insatiable investor demand have turbo-charged issuance in bond markets across the globe

Gujarat state civic body accepts bids for maiden green bonds: Bankers

The city, situated in the Western state of Gujarat, has set a semi-annual coupon of 7.90%, and had invited bids from bankers and investors for the issue earlier in the day

10-year govt bond yield could drop to 6.75% later in 2024: ICICI Bank

"We feel that beyond the middle of this calendar year, by the July-September quarter, we could see the benchmark bond yield touching at least 6.75% if not lower," said B. Prasanna

10-year bond yield declines below 4% as investors await US Fed

The Federal Reserve two-day policy meeting will conclude this afternoon. Markets have priced in a near-certainty that the central bank will leave benchmark interest rates in their current range

Steady benchmark bond yields eye Budget, US Fed cues for direction

India's benchmark 10-year yield ended at 7.1735%, on Monday, following its previous close at 7.1760%

Adani Green completes funding of reserves for $750 million Holdco Bond

Adani Green had announced the redemption plan for the $750 million bonds earlier this month

BoB raises Rs 5,000 cr via infra bonds; completes Rs 10,000 cr target

The coupon was fixed at 7.57 per cent for the 10-year paper. Bond market sources said the initial guidance for the coupon was 7.63-7.64 per cent

SBI Card raises Rs 525 crore via issuance of non-convertible debentures

SBI Card on Wednesday said it has raised up to Rs 525 crore by issuing non-convertible debentures to fund its business growth. It will allot 525 fixed rate, unsecured, rated, taxable, redeemable, subordinate tier II, listed, non-convertible debentures aggregating to Rs 525 crore on a private placement basis, according to a regulatory filing. They will have a face value of Rs 1 crore each and carry a coupon rate of 8.33 per cent, it said.

Benchmark 10-yr bond yields steady at 7.1% as traders await fresh cues

India's benchmark 10-year yield ended at 7.1751%, following its previous close at 7.1790%. India's bond markets were shut on Monday and will be closed on Friday

Foreign banks lap up government bonds ahead of India's index inclusion

Foreign investors pumped in Rs 14,281 crore in domestic debt market in January