This NCD offers a higher interest rate than others that hit the market in recent times. But the 'Call option' means the NCDs can meet a premature end.
If interest rates fall, prices of debt securities rise.
On December 4 the yield curve signaled caution and, along with worries about global trade and interest rates, it helped send the stock market to one of its worst days of the year.
The introduction of tap issue public bonds is being mooted at a time when the bond market in India is roiled by conflicting regulatory decisions
The Authority is yet decide the quantum of additional funds as detailed project reports for all the highway projects to be taken up this year are still underway
The sovereign 10-year bond yield has risen over 60 basis points since April and is near a three-year high due to a lack of investors.
ICRA’s estimates earlier this month had suggested that with a 40 bps further rise in bond yields during the current quarter, the losses on bond portfolios could be upwards of Rs 12,000 crore during Q4 FY18
According to the Budget, gross borrowing via gilts is pegged at Rs 6.05 lakh crore and Rs 4.62 lakh crore on a net basis in 2018-19.
"...the meeting of the holders of US$ 300 million Notes scheduled to be held on March 6, 2018 stands adjourned for want of quorum and will be held on March 20, 2018," RCom said in a regulatory filing.
"Most likely the government may miss its fiscal deficit target for the year on account of lower indirect tax collections (on account of reducing the GST rate from 28 percent to 18 percent on several items and lower dividend from RBI," says Abhishek Goenka, Founder and CEO of IFA Global
Sirisena appointed the commission to probe any irregularities in the issues of Central Bank bonds in February 2015 and March 2016
The yield for the benchmark 10-year bond rose as much as 4 basis points to 7.26 percent, the highest since late July 2016. It was last trading at 7.24 percent.
The USD 500-million ten-year dollar money was issued through the Dubai branch of ICICI Bank, an official at Citigroup India, which was the sole advisor to the deal, told PTI today.
The tranches for the 5.5-, 10-, 20-, 30- and 40-year maturities were priced at 73, 108, 118, 138 and 158 basis points (bps) over US Treasuries.
"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," HDFC said in a filing.
Those robust returns, however, have shrunk as a strong reservoir of cash ready to deploy in the riskiest areas of the high-yield fixed income market has pushed them to near their lowest levels in three years. That has given junk-rated issuers such as Elon Musk's U.S. car company the opportunity to raise cash cheaply.
Manglunia says the 10-year benchmark bond yield is likely to trade in a range of 6.63-6.67 percent today.
In an interview to CNBC-TV18, Revati Kasture, Senior Director of CARE Ratings shared her thoughts in terms of what is happening with RComm's bond trade.
NHAI raised Rs 30 billion in the largest-ever issuance of Masala bonds with a five-year tenor at a coupon rate of 7.3 per cent, which was priced at par.
RBI may have to go on a long pause till the month of March 2018
The Reserve Bank of India had opted to leave the repo rate unchanged at 6.25 percent on April 6, and the minutes released on Thursday showed the six-member monetary policy committee had cited upside risks to inflation as the main reason for the decision.
The Reserve Bank of India stepped in to cap broader gains in the rupee, traders said, adding that some of the gains were also due to the strong $6.1-billion foreign investment into debt and equities this month.
The year 2016 was an uncharacteristically good year for Indian bonds; it was one of those rare periods when Indian bonds outperformed Indian equities across most categories.
The 10-year benchmark bond yield, after some rally, has again settled at 6.85 percent. We expect it to trade in the 6.83-6.87 percent range today, says Ashutosh Raina of HDFC Bank.