HUDCO, PFC, others raise over Rs 10,000 crore via bond sales

HUDCO, PFC, others raise over Rs 10,000 crore via bond sales HUDCO Mumbai: The corporate bond market saw three large issuances on Friday, raising a combined ₹8,441 crore, as issuers stepped up borrowings amid softer yields. State-owned HUDCO raised ₹2,500 crore through 10-year bonds, while PFC accepted ₹2,968 crore for 18-month bonds and ₹2,973 crore for five-year papers. Along with these three, Tata Capital Housing Finance, Nirmal Bang Securities and others issued "The HUDCO paper was likely presold, there were only three large bids which included LIC and EPFO, as this was a longer tenured paper. It is because of this that their rate was below 8%," said a corporate bond dealer at a private firm. HUDCO was able to get a rate of 7.92% for their 10 year paper, while the Power Finance Corporation paper for 18 months and 5 years had rates of 8.21% and 8.05% respectively. The 10-year benchmark government bond yield rose 4 bps from its previous close to settle at 7.29% on Friday. While the yield has edged up from around 7.15% levels seen last week, it remains below the 7.50% high recorded in October, according to CCIL data. All this is for information This is not a buy/sell recommendation. SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Thank you, Technofunda24