Page 35 - Bonds

The time has come for inflation-indexed 'granny' bonds

The need for such bonds has taken on economic and political significance in India

Bonds rally after RBI guv indicates accommodative policies will continue

"Any hasty withdrawal of monetary policy support will negate the nascent or incipient recovery that is taking place," RBI Governor Shaktikanta Das told Business Standard in an interview

Covered bond issuances increase to Rs 2,200 cr in FY21: ICRA report

Domestic covered bond issuances have witnessed a sharp increase to about Rs 2,220 crore in FY2021 as against the issuances of Rs 400 crore seen in the preceding fiscal, said a report by ICRA Ratings. These bonds have been issued so far by non-banking financial corporations (NBFCs), nine in FY2021 compared to two in FY2020. "The covered bonds have seen improved acceptance in the Indian market mainly in H2 FY2021 as it provides a 'dual recourse' benefit to the investor, i.e. the repayment obligation has to be met by the entity and in case of failure to do so, by a pool of assets assigned to a trust," the rating agency said. It said that given the uncertainty on collections due to the pandemic, the protection available to an investor of a covered bond improves when compared with the conventional securitisation of the pool of assets. The domestic market for covered bonds is still in the nascent stages with the first issuance seen in FY2019. This structured product, however, has been a

Union Bank of India raises Rs 850 crore through bonds

State-owned Union Bank of India has raised Rs 850 crore by issuing Basel-III-compliant bonds on a private placement basis

Hawkish Fed stance fuels dollar, leaves stocks and bonds bruised

Europe's STOXX 600 snapped a nine-day winning streak

ICICI Bank raises Rs 2,827 crore by issuing bonds on pvt placement basis

Private sector lender ICICI Bank has raised more than Rs 2,827 crore by issuing bonds on private placement basis.The bonds carry a coupon rate of 6.45 per cent per annum payable annually and were issued at par. There are no special rights or privileges attached to them.The allotment date is June 15 and redemption date is June 15, 2028. The bonds will be listed in relevant segment of the National Stock Exchange (NSE) of India.On April 24, the bank's board of directors had approved the fund-raising through the issuance of debt securities."Pursuant to the same, the bank has allotted 28,274 senior unsecured redeemable long-term bonds in the nature of debentures aggregating to Rs 2,827.40 crore on a private placement basis," said the lender in regulatory filings at stock exchanges.The bonds are rated 'CARE AAA stable' and 'ICRA AAA stable.'Indian banks have been raising capital to insulate themselves from a surge of bad loans as the novel coronavirus pandemic continues to batter the ...

RBI's 3rd tranche of open market purchase of Rs 40,000 cr G-Secs on Jun 17

The RBI will be buying bonds of 20 states in the G-SAP, which will be held on June 17.

Growth forecast, rates: 5 key things to look for in RBI monetary policy

Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth

Sovereign gold bonds sales fetch Rs 25,702 crore till March end

A total of Rs 25,702 crore has been raised through the Sovereign Gold Bond (SGB) Scheme since its inception till end-March, according to the RBI annual report released on Thursday. The scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings. In 2020-21, RBI issued twelve tranches of bonds for an aggregate amount of Rs 16,049 crore (32.35 tonnes). "A total of Rs 25,702 crore (63.32 tonnes) has been raised through the scheme since its inception in November 2015," the annual report said. In the current fiscal, the government has decided to issue the bonds in six tranches from May 2021 to September 2021. The Reserve Bank of India (RBI) issues the bonds on behalf of the Union government. The subscription for the second tranche of scheme ends on Friday. The third tranche or 2021-22 Series III will open for subscription from May 31 June 4. The first

HDFC to raise up to Rs 7,000 cr by issuing bonds on private placement basis

HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis.

UBS, Nomura Holdings fined $452 million as EU cracks down on bond cartel

UBS says impact could be $100 mn on quarter; may appeal

RBI to buy and sell Rs 10,000 cr market bonds simultaneously under OMO

This is the first such 'Operation Twist' this fiscal in which RBI will buy long-term bonds and sell-short term bonds maturing this year

US stocks mixed, treasuries drop after Fed keeps rates pinned near zero

The Federal Reserve has maintained the pace of bond purchases as was widely expected

SBI board approves raising up to $2 billion via bonds this fiscal

The country's largest lender SBI said its central board in its meeting on Wednesday has approved raising up to USD 2 billion (around Rs 14,880 crore) through bonds this fiscal. The Executive Committee of the Central Board in its meeting on April, 28, 2021 has approved long term fund raising in single / multiple tranches up to USD 2 billion, SBI said in a regulatory filing. The funds are to be raised through a public offer and /or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021 -22, SBI said. SBI shares closed at Rs 363.30 apiece on BSE, up 2.95 per cent from the previous close.

Covid-led record defaults cloud India's resilient equities, bonds

Firms have defaulted on at least Rs 5,700 cr of domestic bonds this year, while Sensex hit 3-week high amid optimism on US vaccine support

SBI board to consider raising $2 billion through bonds in 2021-22

The bank said the Executive Committee of its Central Board would consider raising $2 billion through bonds in the financial year 2021-22

Indian companies go slow on long-term bonds amid Covid-19 concerns

They will likely rely on short-term ones if the pandemic continues longer

Fundraising via bonds on private placement basis climbs 14% in FY21

Listed firms mopped up Rs 7.72 trillion through issuance of bonds on private placement basis in 2020-21, an increase of 14% from the preceding fiscal

Tencent raises $4.2 billion in its second major bond deal in a year

Asia's most valuable company said in a statement it raised $500 million in a 10-year tranche, $900 million in 20-year debt, $1.75 billion in 30 year and $1 billion in 40-year debt

Core worth of PSB capital bonds half that of similar other paper: Ind-Ra

The illiquid, non-trading nature of these securities could add to the discount. So it may not strengthen their tangible equity by as much but may bolster regulatory norms