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Mindspace Business Parks REIT secured commitment bids worth INR 6 billion (USD 67.97 million) through a two-year bond issuance, carrying a quarterly coupon of 7%. The bids were accepted after the company invited commitments from bankers and investors earlier in the day. Alongside this transaction, several other major corporates, including Kotak Mahindra Prime, Bajaj Finance, and Tata Capital, were also reported to have raised funds through debt issuances with varying tenures and coupon rates, reflecting robust activity in the corporate bond market.
Mindspace Business Parks REIT accepted bids amounting to INR 6 billion (USD 67.97 million) for its two-year bonds carrying a quarterly coupon of 7%. According to three bankers familiar with the matter, the company had called for commitment bids from bankers and investors earlier in the day and finalised the deal later. The company chose not to respond to an email from Reuters seeking comments on the development. Advertisement
Market data showed a series of debt issuances taking place around the same period. Kotak Mahindra Prime raised INR 3.7 billion through three-year bonds with a 7.2990% coupon and another INR 5.8 billion via three-year-and-one-month bonds at 7.2880%. Bajaj Finance issued bonds worth INR 10 billion with a tenure of three years and one month at a 7.10% coupon. Tata Capital also featured in the market with reissues, including its July 2028 series for a two-year-and-ten-month term (coupon yet to be decided) and its April 2030 series for a four-year-and-seven-month term at a 7.30% yield. All the issuances carried top-tier AAA ratings from rating agencies such as Crisil and Icra.
The presence of multiple issuances across different maturities and coupon levels suggested sustained momentum in the domestic debt market, as companies continued to tap bond investors for their funding requirements in a favourable rate environment.
Source - Reuters
5th Jun, 2025
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