India New Issue-Summit Digitel to issue near 3-year bonds, bankers say

By Reuters News

MUMBAI, Sept 29 (Reuters) - India's Summit Digitel Infrastructure plans to raise up to 8.5 billion rupees ($88.58 million) through the sale of bonds maturing in three years, three bankers said on Tuesday.

The bonds will carry a floating rate coupon, with quarterly coupon resets linked to the three-month Treasury bill yield plus a spread of 185 basis points, they said, adding that the company has invited commitment bids for the issue on Wednesday.

The company did not immediately respond to a Reuters email seeking comment.



Here is the list of deals reported so far on September 29:

Issuer

Tenure

Coupon (in %)

Issue size (in bln rupees)*

Bidding date

Rating

Summit Digitel

3 years

To be decided

8.5

September 30

AAA(Crisil)

Delhi International Airport

15 years

8.71

24.50

September 29

AA (Icra)

Vedanta

3 years

8.75

14

September 29

AA+ (Icra, Crisil)

Reliance Industries

10 years

7.90

120+10

September 30

AAA (Crisil, Care)


*Size includes base plus greenshoe for some issues


($1 = 95.9600 Indian rupees)

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