Indian cement company launches bond

Gujarat Ambuja Cements issues Rs1 billion deal via HSBC.

Gujarat Ambuja Cements GACL, India's leading cement manufacturer, has launched its first bond deal of 2002. HSBC Securities and Capital Markets India acted as sole lead manager on the Rs1 billion $20.7 million transaction.

The five-year fixed rate deal, which was rated triple-A by Fitch, offers a nominal rate of 9.28%, to be paid semi-annually. As it was priced at a discount of 99.99, the bonds real yield is 9.29%, 203bp over five-year government paper.

HSBC said the offering...

To continue reading, please login or register for free

Click for more on: indian | cement | company | launches | bond

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...