Page 2 - Bonds

Credit Suisse failure unlikely to spook AT-1 bond investors in India

PNB likely to issue AT-1 bonds worth Rs 2,000 cr this week; yields not seen surging

US banking turmoil: Wipeout of risky bonds upends $275-billion market

UBS Group AG told Credit Suisse wealth bankers it's weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover

Relief over Credit Suisse deal crumbles as focus shifts to bond risks

In a package orchestrated by Swiss regulators on Sunday, UBS Group AG will pay 3 billion Swiss francs ($3.23 billion) for 167-year-old Credit Suisse Group AG and assume up to $5.4 billion in losses

Credit Suisse tells staff bonuses will still be paid amid UBS takeover

There will be no changes to payroll arrangements and bonuses will still be paid on March 24, Credit Suisse said in an internal memo to staff

Credit Suisse's $17 bn of risky bonds are now worthless after UBS takeover

The bond wipe out is the biggest loss yet for Europe's $275 billion AT1 market, far eclipsing the only other write-down to date of this type of security

UCO Bank raises Rs 500 crore in AT1 bonds at 9.5%, highest rate in FY23

AT1 bonds are a means by which banks augment core equity capital

Investors should make staggered investment in long-duration funds

Be, however, prepared for interim volatility and have a horizon of above five years

SVB says Goldman Sachs was the buyer of portfolio it booked losses on

The loss on the portfolio was the reason SVB, a technology-focused lender known as Silicon Valley Bank, attempted a $2.25 billion stock sale last week using Goldman Sachs as an adviser

Mindpsace REIT raises Rs 550 cr through green bonds to refinance loans

Mindspace Business Parks REIT (Mindspace REIT) has raised Rs 550 crore through an issue of green bonds. In a regulatory filing, Mindpsace REIT stated that the Executive Committee of the manager (K Raheja Corp Investment Managers LLP) has approved the allotment of 55,000 green debt securities in the form of listed, rated, secured, noncumulative, taxable, transferable, redeemable non-convertible debentures of Rs 1 lakh each aggregating to Rs 550 crore by way of the private placement. The tenure of the Non-Convertible Debentures is three years and thirty days at a fixed quarterly coupon of 8.02 per cent per annum payable quarterly. The issue saw participation from leading insurers, mutual funds, and other investor classes. The proceeds will be used towards refinancing loans availed by one of the asset SPVs (special purpose vehicle) to fund the eligible green projects. Mindspace Business Parks REIT, sponsored by the K Raheja Corp group, got listed on the bourses in August 2020. It owns

Mindspace raises Rs 550 cr through green bond to finance projects

Issue had participation from leading insurers, mutual funds, other investors: Real estate firm

Outflows in debt MFs continue, Rs 13,815-crore withdrawn in February

Mutual funds focussed on investing in fixed-income securities witnessed an outflow of Rs 13,815 crore in February, making it the third month of withdrawals in a row despite expectations that the rate hike cycle was nearing its end. In comparison, such funds saw an outflow of Rs 10,316 crore in January and Rs 21,947 crore in December. Prior to that, debt funds saw a net infusion of Rs 3,668 crore in November 2022, data from the Association of Mutual Funds in India (Amfi) showed. Of the 16 fixed-income or debt fund categories, nine witnessed net outflows during the month under review and the remaining six saw inflow. The heavy withdrawal was seen from liquid funds. Overall, debt funds continued to witness outflows at Rs 13,815 crore during the period under review. "With the central bank's focus on moderating inflation, the monetary policy has been tailored to ensure a disinflation process. Despite expectations around the February rate hike of 25 basis points likely being amongst the

Silicon Valley Bank crisis unlikely to affect Indian banks, say analysts

Have exposure to bigger banks only, not small ones: SBI chairman Khara

Troubled Silicon Valley startup bank spooks share markets, bonds rally

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.3% to a two-month low, with banks and Hong Kong tech stocks leading losses, while London and European futures each slid more than 1%

Power Grid Corporation board approves raising up to Rs 900 cr via bonds

State-owned Power Grid Corporation of India on Monday said that its board has approved raising up to Rs 900 crore through issuance of non-convertible bonds on private placement basis. "Committee of Directors for Bonds, in their meeting held today i.e. on 9th March, 2023, have approved the raising of unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXI (71 st) issue 2022-23 on private placement up to Rs 900 crore by securitization of cash flows of 10 years i.e, till FY 2032-33 of its operational SPV viz., 'POWERGRID Mithilanchal Transmission Ltd (PMTL)'," a BSE filing said. The base issue size will be Rs 300 crore with green shoe option of Rs 600 crore. The issue will be listed on NSE and/or BSE Ltd. In a separate filing, the company said, "Power Grid Corporation of India Ltd has been declared as successful bidder under tariff based competitive bidding to establish inter-state transmission system for Transmission System Strengthening Scheme for ...

SBI raises Rs 3,717 cr via AT-1 bonds at 8.25% with 10-yr call option

AT-1 coupon rates rise as inflation, US bond selloff sour view on bonds

64.74% of electoral bonds redeemed between March 2018 and November 2022

An individual can buy bonds, either singly or jointly with other individuals. No limit exists on the number of electoral bonds that a person or corporate entity can purchase

State Bank of India likely to sell Rs 5,456-crore AT1 bonds next week

UCO Bank may also issue AT-1 bonds; banks raising funds amid strong loan growth

After Bajaj Allianz, New India Assurance gets into surety bonds business

Surety bonds can help smaller infra developers compete with larger, more established ones for bigger contracts, the company said

Commercial paper rates may rise further as liquidity dries up, say analysts

Earlier this week, state-run financial institution NABARD raised three-month funds at 7.65%, which was over 40 basis points higher than what it paid for a similar paper a month ago

Adani Group bonds flash warnings even as $153 billion stock rout eases

But a closer look at billionaire Gautam Adani's empire shows that while fears of a debt blowup in the next three years have receded, investors still have doubts