Page 20 - Bonds

SrGBs will facilitate price discovery for other fin instruments: RBI's Rao

Rao emphasised that there is a growing trend of ESG-focused funds in global financial markets, driven by institutional investors seeking greater transparency

China property developers' shares, bonds dive as sector worries deepen

Doubts are growing any official support will be forthcoming, and investors do not expect any aid to be aimed at shareholders

It's time to get real about rupee's role in international financial system

New Delhi's own experiment with Russian oil should be a sobering reminder of how little sanctions have done to dethrone the US currency. Internationalizing the rupee will neither be swift, nor easy

IMF pitches for the inclusion of India in international bond indices

Inclusion in a global bond index is also expected to exert pressure on the government to adhere to fiscal discipline and ensure that its bonds retain investment grade

World Bank chief Ajay Banga eyes corporate philanthropy to raise funds

A panel appointed by Indian presidency of G-20 has estimated that $3 trillion is needed every year through 2030 for issues including debt relief to low-income countries and to fight climate change

Adani raises Rs 1,250 cr through first bond sale since Hindenburg report

Adani Enterprises had last raised funds via a primary placement of bonds in September last year at an 8.40 per cent yield for 17 months

Vedanta Resources needs to be proactive about refinancing $1 bn bond: S&P

In April this year, the rating agency said that a credible refinancing plan at least six months before maturity, due in Jan 24, would be important to maintain the current rating

Sebi unveils new disclosure framework for issuers of debt securities

Markets regulator Sebi has notified rules for introducing the concept of general information and key information document to avoid multiple filings of documents by issuers of debt securities. The move will promote ease of doing business for issuers. A General Information Document (GID) will contain the information and disclosures specified in the common schedule and will be filed with the stock exchanges at the time of the first issuance. The GID will have a validity period of one year, Sebi said in a notification. Thereafter, for subsequent private placements of non-convertible securities or commercial papers within the validity period, only a Key Information Document (KID) will be required to be filed with the stock exchanges, containing material changes. KID includes financial information, if such information provided in the general information document is more than six months old. To begin with, Sebi said the concept would be made applicable on a 'comply or explain' basis til

India's announced M&A deals increase 5.2% YoY; reach above 1,400 in H1

Domestic M&A activity totaled $16.7 billion, down 83.2% from the same period in 2022. Inbound M&A fell 46.3% from a year ago and totaled $12 billion

Indian state-run banks to be cautious buyers of govt bonds as yields rise

Bond yields started rising after the Reserve Bank of India's June monetary policy decision pushed out hopes of a rate cut to February, with many participants expecting one only next financial year

Punjab National Bank raises Rs 3,090 cr from bonds to fund business growth

State-owned Punjab National Bank on Friday said it has raised Rs 3,090 crore from Basel III compliant Tier-II capital Bonds to fund business growth. These bonds would carry a coupon rate of 7.74 per cent per annum, PNB said in a regulatory filing. The issue closed on June 27, and allotment of bonds was made on Friday, it added.

Govt approves issuance of 27th tranche of electoral bonds, sale from July 3

The government on Friday approved the issuance of the 27th tranche of electoral bonds that will open for sale on July 3. The decision comes ahead of assembly elections of Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram. Poll dates are likely to be announced in a couple of months. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding. State Bank of India (SBI), in the 27th phase of sale, has been authorised to issue and encash electoral bonds through 29 authorised branches from July 3-12, the finance ministry said in a statement. The sale of the first batch of electoral bonds happened on March 1-10, 2018. The authorised SBI branches include those in Bengaluru, Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur and Mumbai. SBI is the only authorised bank to issue electoral bonds. An electoral

Sebi issues guidelines on product offerings by online bond platforms

Capital markets regulator Sebi on Friday restricted online bond platform providers from offering products other than listed debt securities on their platforms. In addition, the regulator allowed them to offer securities such as Government Securities, Treasury Bills, listed Sovereign Gold Bonds, listed municipal debt securities, and listed securitised debt instruments on their online bond platforms, according to a circular. Under the rules, Online Bond Platform Providers (OBPPs) need to register themselves as stock brokers in the debt segment of the stock exchange. OBPs offer an avenue for investors, particularly non-institutional investors to access the bond market. While restricting products offered on an online bond platform, Sebi reiterated that an entity acting as an online bond platform provider would cease to offer on its platform or any other platform website, products or services not permitted under the rules. It, further, said that the holding company, subsidiary, or ...

Punjab & Sind Bank plans to raise Rs 750 cr via bonds to fund growth

State-owned Punjab & Sind Bank on Monday said it plans to raise Rs 750 crore from bonds to fund business growth. The decision to this effect was taken in the board meeting on Monday. The board has approved the raising of capital up to Rs 750 crore through the issuance of Basel-III compliant Additional Tier-I Bonds or Tier-II Bonds, the bank said in a regulatory filing. The fundraising will be done in one or more tranches within a period of 12 months, it said.

HDFC to raise Rs 10,000 cr via non-convertible debentures, tenure of 10 yrs

Mortgage lender HDFC on Monday said it will raise Rs 10,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis to shore up its resources. These unsecured NCDs have a tenure of 10 years, and the coupon rate will be decided on the electronic bidding platform, HDFC said in a regulatory filing. The object of the issue is to augment the long-term resources of the corporation, it said. The proceeds of the issue would be utilised for financing/refinancing the housing finance business requirements, it said.

IIFL Finance keen to raise more funds through bond market, says CFO

As on March 31, the company's total borrowing stood at nearly 40 billion rupees ($485.07 million). Its borrowing mix currently comprises 60% from banks, 20% from the bond market

IIFL to raise Rs 1,500 cr in bonds to fuel growth, caps coupon rate at 9%

Leading non-bank lender IIFL Finance is raising up to Rs 1,500 crore through a public issue of secured redeemable non-convertible debentures (NCDs) to fuel credit growth and debt management, a senior company official said on Thursday. The public issue of the IIFL NCDs will open on Friday and has a base offer of Rs 300 crore. However, the company has a green shoe option to retain an over-subscription of up to Rs 1,200 crore. With the Reserve Bank of India pausing its rate hike cycle, IIFL remains optimistic about raising the entire Rs 1,500 crore in this tranche of issues with an attractive 9 per cent coupon rate. "We expect to raise the full subscription amount in this issue due to the attractive coupon rates. Credit growth is robust after the Covid-19 pandemic, IIFL Director Gaurav Mishra said. The IIFL bonds offer a coupon rate starting at 8.35 per cent for 24 months and the highest effective yield of 9 per cent per annum for a tenor of 60 months. IIFL has kept the highest coupo

Bond issuances by banks to fall below Rs 90,000 cr in FY24: Report

Issuances hit all-time high of Rs 1.1 trn previous financial year but liquidity conditions easing now

RBI may set cutoff yield on 10-yr state bonds in 7.32%-7.35% band: Poll

MUMBAI (Reuters) - Indian states will aim to raise an aggregate of 173 billion Indian rupees ($2.09 billion) on Tuesday through the sale of bonds maturing in five years to 30 years.

Sebi releases bond trading guidelines on RFQ platform to increase liquidity

Capital markets regulator Sebi on Friday came out with guidelines for transactions in corporate bonds through Request for Quote (RFQ) platform by stock brokers in order to increase liquidity on the platform. For all the trades in proprietary capacity, stock brokers will have to undertake at least 10 per cent of their total secondary market trades by value in corporate bonds in that month by placing quotes through one-to-one or one-to-many mode on the RFQ platform of stock exchanges from July 1, and further, the percentage will increase to 25 per cent from April next year, Sebi said in a circular. Stock brokers will have to consider the trades executed by value through one-to-one (OTO) or one-to-many (OTM) mode of RFQ with respect to the total secondary market trades in corporate bonds, during the current month and immediately preceding two months on a rolling basis. Further, only trades pertaining to proprietary capacity of stock brokers will be considered for the purpose of such ..