Tata Capital Raises INR 24.75 Billion in Corporate Bond Issue

Tata Capital accepted bids totaling INR 24.75 billion for a new corporate bond issue. The transaction was executed at a coupon rate of 8.05%. The instrument has a three-year maturity. Bankers familiar with the deal confirmed the final pricing.

The company invited bids throughout the day and filled the entire allocation. Crisil assigned an AAA rating to the security. This marks the highest possible credit rating category. Tata Capital did not immediately respond to requests for comment.

AAA Rated Debt Issuance

The firm has remained active in the debt market recently. Commercial paper issuances were recorded during the current financial year. This latest bond adds to the company's existing outstanding debt stack. Market data reflects a consistent pattern of borrowing activity.

The bond market calendar remains dense with new supply. Several financial institutions are raising funds through rupee-denominated debt. Issuers are meeting funding requirements at current borrowing costs. The concentration of high-rated supply offers multiple options to investors.

Competing Bond Transactions

Bajaj Housing Finance raised INR 20 billion in a reissue. The bonds mature in August 2031. The coupon was set at 8.07%. Both Crisil and India Ratings gave the issue an AAA rating.

Kotak Mahindra Prime issued a five-year and two-month bond. The size was INR 7 billion. The coupon rate stood at 8.1470%. Crisil rated this issue AAA. REC also entered the market with a one-year and eight-month bond. That issue carried a 7.30% coupon and an INR 5 billion size.

Upcoming Market Supply

Aditya Birla Capital is scheduled to offer a series of bonds. Maturities range from two years and eight months to four years and 11 months. One tranche has a 7.98% coupon. Two tranches are structured as zero-coupon bonds. A three-year tranche carries an 8.10% coupon.

HDB Financial Services plans a reissue of about INR 20 billion. The maturity is nearly three years. The coupon rate is not yet fixed. Shriram Finance is preparing a three-year reissue of INR 30 billion. The yield is set at 7.85%. Care and Icra rated the Shriram issue AAA. GN auto markets/bonds: corporate bonds reported on these transactions.