Housing Development Finance Corpation India?s leading mortgage lender, is planning to raise Rs 500 crore ($126 million) through a bond sale, two merchant bankers familiar with the matter said on Wednesday.
The three-year bonds, with a coupon of 8.95% payable annually, opens and closes on October 29, a day before the central bank?s monetary policy review, they said.
The offering includes a greenshoe option of Rs 250 crore .
State-owned Food Corporation of India, a federal grain procuring agency, has invited bids for selling Rs 2000 crore billion rupees of 15- and 17-year bonds on Thursday, bankers said.
The bonds are likely to be priced around 35-45 basis points above the similar-tenor federal bond swaps . The offering is likely to attract pension funds, the bankers said.
Government-owned Indian Railway Finance Corporation is launching 10- and 15-year bonds on Friday to raise Rs 500 crore billion rupees, with an option to retain an unspecified greenshoe, another banker said.