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NHB sets coupon to raise up to 5 bln rupees via bonds

Source : REUTERS
Last Updated: Tue, Dec 04, 2012 11:18 hrs
Kotak Mahindra, Yes Bank see pressure on margins easing

India's National Housing Bank plans to raise up to 5 billion rupees ($91.45 million) via bonds at 8.78 percent coupon, three sources with direct knowledge of the deal said on Tuesday.

The firm will issue 36-month unsecured bonds with a put/call option after 400 days.

The issue has a base size of 2.5 billion rupees, according to the termsheet obtained by Reuters.

Axis Bank, Nomura and HSBC India are the arrangers, they said.

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