In Short : REC Limited has received approval from the Central Board of Direct Taxes (CBDT) to issue ₹5,000 crore zero coupon bonds with a tenure of 10.5 years, to be issued by March 31, 2027. These bonds, offered at a discount, provide tax benefits and attract long-term investors. This move supports REC’s efforts to […]
REC Successfully Raises Rs 5,635 Crore Through Private Placement of Bonds – EQ
In Short : REC Limited raised ₹5,635 crore through private bond placements, with tranches of ₹3,000 crore (2 years, 8 months) at 6.52% and ₹2,635 crore (10 years, 11 months) at 6.81%. Rated “AAA” by top agencies, the bonds will be listed on BSE and NSE. The funds will support REC’s power sector infrastructure projects […]
Maharatna company Power Grid Corporation of India declares up to ₹6000 crore fundraise via bonds – EQ
In Short : Power Grid Corporation of India plans to raise up to ₹6,000 crore via taxable, non-convertible bonds through private placement. The 10-year bonds include a ₹1,500 crore base issue and ₹4,500 crore green shoe option. Interest will be paid annually, with listing on BSE and NSE. Funds will support ongoing and future power […]
BluSmart Repays INR 30 Cr After Defaulting On Bonds – EQ
Electric cab-hailing startup BluSmart Mobility reportedly defaulted on INR 30 Cr of bonds in early February. BluSmart, which is in the middle of raising about INR 434 Cr in its Series B funding round, was required to repay INR 30 Cr secured via non-convertible debentures (NCDs) with a coupon rate of 12% on February 3, […]
NHPC raises Rs 996 crore through bonds – EQ Mag
NHPC announced that it has raised Rs 996 crore through unsecured, redeemable, non-convertible, non-cumulative and taxable AD series bonds on private placement basis. The company allotted the 7.59% p.a. bonds on 20 February 2023 for 15 years and it will be matured on 20 February 2038. The AD bonds are proposed for listing at Wholesale […]
PFC Rs 5K cr bonds issue over-subscribed, closed 11 days ahead of schedule
Power Finance Corporation (PFC) has planned to raise Rs 10,000 crore through bonds in two tranches. State-run Power Finance Corporation’s Rs 5,000 crore taxable non-convertible debentures (NCDs) issue was subscribed close to nine times on Monday and closed for subscription 11 days ahead of the schedule, according to the BSE data. Power Finance Corporation (PFC) […]
PFC to raise Rs 10,000 cr through bonds issue; 1st tranche to open Jan 15
New Delhi: Power Finance Corporation Ltd (PFC), the nation’s biggest lender to the power sector, will raise Rs 10,000 crore through bonds in two tranches. The first tranche of Rs 5,000 crore will open for subscription on January 15 and close on January 29, according to the company’s prospectus. PFC had previously sold tax-free infrastructure […]
India Corporate Bonds: 3-yr yields down on MF demand; mkt eyes Oct CPI
MUMBAI: Yields on corporate bonds maturing in up to three years ended lower in the secondary market today due to firm demand from mutual funds, dealers said. Yields on bonds of other maturities remained largely steady as investors avoided placing large bets ahead of the release of the Consumer Price Index-based inflation print for October today. According […]
Bonds suck in $26 bn, pricing in US Democrats win: BofA
LONDON: Bond funds have seen the second-largest weekly inflows ever of $25.9 billion, BofA said on Friday, as the market continues to price in a Democrats victory in next month’s U.S. presidential election, which could mean even more fiscal stimulus. “Blue wave election outcome (Democrats winning) has curiously flipped from consensus bear to bull […]
Moody’s lowers forecast for green bond issuance this year
Green bonds are fixed-income securities that raise capital for projects with environmental benefits, such as renewable energy or low-carbon transport LONDON: Moody’s said on Tuesday it had lowered its estimate for green bond issuance this year to $175 billion to $225 billion, down from its previous forecast of $300 billion, due to the economic effects […]