The non-banking finance company said the funds raised through this issue will be utilised primarily for lending activities of the company
RBL Bank on Tuesday said it has raised $100 million (about Rs 770 crore) through its first issuance of Basel III-compliant unsecured and subordinated tier 2 bonds.
A major bond market rout globally has prompted several Asian companies to revise their dent sale plans.
The funds will be raised in the period of next 12 months through private placement mode, subject to approval of shareholders among others
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Global growth optimism, according to the survey findings, was at an all-time low, with recession fears surging in the world's investment community.
The lender's board will consider the proposal at a board meeting on April 16
Non-banking finance company IIFL Finance on Tuesday said it has bought back USD 50 million worth of overseas bonds with funds raised through a loan from a global bank
The Reserve Bank of India faces the challenge of keeping bond yields in check as the government kicks off an unprecedented 14.31 trillion rupees ($190 billion) of annual borrowing in April.
Three-year paper priced at 5.5%
The lender came up with a Basel-III compliant bond issue with base size of Rs 200 crore and green shoe option of Rs 600 crore
Shares of the bank closed at Rs 32 apiece on the BSE, down by 3.18 per cent from previous close
Punjab National Bank (PNB) on Tuesday said its board has approved a proposal to raise Rs 12,000 crore through issuance of bonds to fund business growth.
Private sector lender Karnataka Bank on Tuesday said it will raise up to Rs 300 crore by issuing Basel III compliant bonds on a private placement basis.
According to the filing, the company has planned to raise Rs 75,000 through issuance of bonds , term loans and external commercial borrowings
The 15-year offering comes with variable coupon rate
Outstanding advances stood at Rs 37,688 crore at the end of September 2021. They rose from Rs 33,637 crore in March 2020 and Rs 36,647 crore in March 2021, according to ICRA.
Sources say SBI Pension Fund and EPFO were key investors in the "AAA" rated paper
Rating agency Crisil has assigned "AAA/Stable" for Rs 10,000 crore of bonds
Given the high standing of the company, the pricing was fine at 7.18 per cent, said bond dealers, adding that initial indication was 7.25-7.30 per cent on the yield.