India Renewable Energy Development Agency (IREDA) on Wednesday scrapped its proposed green bond sale amid a tepid response from market participants. IREDA had planned to raise Rs 250 crore through 10-year bonds.
However, HDFC Bank’s Rs 6,000-crore infrastructure bond issue was fully subscribed at a coupon of 8.44%. Housing and Urban Development Corporation also raised Rs 930 crore at a coupon of 8.23% through three-year bonds. Dealers said another private sector bank also raised Rs 3,000 crore through infrastructure bonds.
Mutual Funds bought papers maturing in 2020 and 2021 segment for their fixed maturity plans. The demand was mainly for papers issued by LIC Housing Finance and Housing Development Finance Corp (HDFC). Read More