National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 5,000 crore through bonds on June 13, money market sources said.
The bonds have a 5-year-5-month-22-day maturity on December 6, 2029.
The bonds have a base issue of Rs 2,000 crore and a greenshoe option of Rs 3,000 crore. A greenshoe option gives the underwriter the right to sell investors more bonds than planned if the demand is higher than expected.
Bidding for the bonds will held between 10:30am and 11:30am on the electronic bidding platform of the BSE.
The pay-in date of the bonds is on June 14. It is the date when exchange of bonds and money takes place.
The bonds have been rated ‘AAA’ with a ‘stable’ outlook by India Ratings and ICRA. Minimum application size of the bonds is Rs 1 lakh and in multiples of Rs 1 lakh thereafter.
On June 11, Indian Railway Finance Corp, Sundaram Home Finance, Krazybee Services Pvt Ltd, Adani Airport Holdings Ltd, Tata Realty and Infrastructure Ltd, and Muthoot Capital Services Ltd raised funds through bonds.
Indian Railway Finance Corp raised Rs 3,000 crore through bonds maturing in 10 years at 7.44 percent coupon rate.
Adani Airport Holdings raised Rs 150 crore through bonds maturing in four years at a coupon rate of 9.95 percent.
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