BOND HOLDERS
Future group's FMCG arm FCL defaults on payments of Rs 449.04 crore till June-end
Future Consumer Ltd (FCL), the FMCG arm of debt-laden Future Group, disclosed on Saturday that it defaulted on payments totaling Rs 449.04 crore as of June 2024. This includes Rs 284.81 crore towards bank loans and revolving facilities, and Rs 164.23 crore on borrowings through unlisted debt securities (NCDs and NCRPs). FCL also reported outstanding debt securities amounting to Rs 222.06 crore, with defaults of Rs 164.23 crore owed to non-convertible debenture holders since May 2022.
What does a reduction in ticket size of corporate bonds to Rs 10,000 mean for retail investors
The key amendments introduced by Sebi are designed not only to lower the entry barriers for potential investors but also to enhance the overall efficiency and transparency of the bond market.
Despite offer of new securities, govt bond buybacks yet to come to life
At the buyback auction on Tuesday, the RBI accepted bids worth Rs 5,266.04 crore as against the aggregate notified amount of Rs 60,000 crore worth of bonds that the government had offered to repurchase.
SP Group arm Goswami Infra sweetens bond deal
Shapoorji Pallonji Group offers ₹400 crore more to Goswami Infratech bondholders to extend deadline for meeting covenants on ₹14,300 crore borrowings. The company seeks a 4-month window to sell assets, ensure payment of ₹1,400 crore interest at 18.75% by September 30, 2024.
Why did the RBI reject most bids in the bond buyback programme?
India's sovereign bond market buzzes with the Reserve Bank of India's buyback operation, easing debt repayment pressure and lowering interest costs. The operation injects liquidity into the banking system, influencing monetary policy and interest rate decisions.
RBI accepts only few bids at govt bond buyback for second week in a row
The RBI accepted bids worth Rs 2069.99 crore at Thursday’s buyback auction of government securities out of up to Rs 60,000 crore worth of bonds that the Centre had offered to repurchase. In a similar auction last week, the RBI had accepted bids worth Rs 10,512.99 crore out of Rs 40,000 crore worth of bonds that the government had offered to buyback.
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Tata Mutual Fund merges banking & PSU debt fund with corporate bond fund
The fund house informed about this to its unit holders through a notice-cum-addendum. The merger will be effective from June 15. From this date, Tata Banking & PSU Debt Fund will cease to exist and the unitholders of the scheme will become unitholders of Tata Corporate Bond Fund.
Bond buyback: Govt proposes, market disposes, over price
At a buyback auction of government bonds last week, the RBI accepted bids worth only ₹10,512.99 crore versus ₹40,000 crore worth of securities the government had offered to repurchase, with the central bank rejecting most bids.
Best Gifts For Mother’s Day Under 2000: Celebrate the Bond of Motherhood
Celebrate Mom's unconditional love and support with the perfect Mother's Day gift under 2000. From personalized keepsakes to luxurious spa sets, discover a curated selection of heartfelt presents that show appreciation for her endless sacrifices. Whether it's a sentimental photo album or a rejuvenating skincare kit, make her day unforgettable with a thoughtful gesture that speaks volumes of gratitude and affection.
RBI: Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity
The unexpected move is also seen bringing down yields on short-term government bonds, as the three securities that the government has chosen to buy back are all maturing within six to nine months. A fall in government bond yields brings down cost of borrowing for companies as pricing of corporate bonds is benchmarked to sovereign debt. A bulk of corporate borrowing is through short-term papers.
Bharti Airtel issues shares worth Rs 246 crore to FCCB holders
Following allotment of equity against the foreign currency convertible bond (FCCB) the outstanding principal value of FCCBs at Singapore Exchange has reduced to USD 204.690 million.
A HC ruling raises hopes of recovery for LVB bondholders
The tier-2 bonds have a loss absorbency feature, which means that if a bank fails, its tier-2 bondholders will absorb any losses ahead of its depositors. LVB had reported about ₹3,000 crore in accumulated losses, one-fourth of its loan book had turned sour, and tier-1 capital had turned negative.
Rahul Gandhi slams PM Modi over electoral bonds issue, calls it a 'form of extortion'
Senior Congress leader Rahul Gandhi launched an attack on Prime Minister Narendra Modi on Tuesday over the electoral bonds issue, describing it as a "form of extortion" and alleging "intimidatory tactics" against targeted businessmen. "There are some people in every small town or village who extort money on the streets by threatening physical harm. In Malayalam, you call this extortion 'kolla adikkal' (loot), but Modi calls it electoral bonds. What a common thief is doing on the streets, the PM is doing at an international level," Gandhi alleged.
ICICI, Axis, IIFL invest in GMR's Rs 800 crore Delhi Airport bonds
ICICI Bank, Axis Bank, and India Infrastructure Finance Ltd (IIFL) have collectively subscribed to ₹800 crore bonds issued by GMR group-promoted Delhi International Airport. The bonds, raised for 10 years at an annualised coupon of 9.84% with a reset clause at the end of five years, will finance the capital expenditure for phase 3A expansion at Indira Gandhi International Airport. Last week, ICICI Bank and Axis Bank invested ₹300 crore each, while IIFL invested ₹200 crore in the bonds, which are linked to the repo rate with a spread cap and floor.
Sovereign Gold Bond 2016 Series II final redemption is today: 3 things these SGB investors need to check before maturity
SGB final redemption: The Sovereign Gold Bond is issued by Reserve Bank on behalf of Government of India. If you are an investor in this SGB tranche, then here are a few important things to keep in mind with regards to the maturity of an SGB tranche.
Gold slips as dollar, bond yields firm after Fed official comment
The dollar was up 0.1% against its rivals, making gold more expensive for other currency holder, while yields on 10-year Treasury notes also rose.
Electoral bonds: A look at top buyers, other key numbers
Here’s a look at the top electoral bond buyers along with an examination of some of the other key numbers that have emerged from the initial data dump.
India-Mauritius special bonds: 14 India-assisted projects to be inaugurated at President Murmu’s visit this week
India and Mauritius have close relations anchored in shared history, culture, and strategic partnership. The special ties are strengthened through high-level political engagement, cooperation in various sectors, and people-to-people exchanges. The two countries collaborate on development projects, trade, and capacity-building initiatives.
Debenture trustee seeks waiver on bond terms for Shapoorji Pallonji's Afcons proposed IPO
Goswami Infratech Pvt Ltd (GIPL) raised Rs 14500 crore in bonds in June last year, and one of the covenants of the bond was that the yields on the bonds would increase by 2% if the company failed to monetise Afcons before June 2024.
Vedanta Resources downgraded over 'interest burden'
Ahead of its restructuring, Vedanta Resources had $3 billion due in the current financial year, and $4.6 billion in the next. Post restructuring, these liabilities have reduced to $2 billion in 2023-24 (Apr-Mar), and $2.4 billion in FY25.
Gold rebounds as US dollar, yields slip with eyes on Fed guidance
Gold prices inched up on Tuesday, buoyed by a weaker U.S. dollar and bond yields, ahead of a key inflation report and comments from Federal Reserve officials for further clues on when interest rate cuts will commence.
ETMarkets Smart Talk: Investors with a time horizon of 3 yrs can look at Gilt funds: Anand Varadarajan
Anand Varadarajan says investors can consider Gilt funds or Ultra category for different time horizons. The bond market is making peace with rate cuts. SIP contributions are rising due to the financialization of savings. Infra and banking sectors offer growth opportunities. Retail investors are now becoming crucial for the equity markets.
UGRO Capital NCDs offer effective yields up to 11.03%; subscription open until February 21
It will close on Wednesday, February 21, 2024, with an option of early closure subject to compliance with Regulation 33A of the SEBI NCS Regulations.
Weakening bond yields give a fillip to PSU banks' rally
Analysts, however, say upsides in these shares could be limited because of rising credit costs and rich valuations. Shares of UCO Bank soared 15.23% to an all-time high of ₹60.65.
Bharti Airtel to allot 38.6 lakh equity shares to certain FCCB holders
Bharti Airtel on Friday said it will allot 38.6 lakh equity shares to certain FCCB holders at a conversion price of Rs 518 per equity share. This follows receipt of notice for conversion of FCCBs (Foreign Currency Convertible Bonds) of principal value of USD 27,795,000 from the FCCBs holders.
REC closes largest sale of Yen bonds by an Indian company, raises Rs. 3500 crore
ET had reported on Monday that REC, one of the largest state-sponsored infrastructure financiers, would be launching a sale of Yen-denominated bonds this week.
Vedanta faces investor reckoning over $3.2 billion of bonds
Vedanta's dollar notes due this month were the most supportive of the firm’s liability management exercise, while the remaining three trade below the 80 cents on the dollar mark often considered indicative of distress. Still, the bond due in August 2024 rose 3.5 cents on the dollar in December to 66.4 cents, according to Bloomberg-compiled data.
Vedanta Resources extends time till January 2 for bondholders' consent
Vedanta Resources Ltd has extended the deadline for bondholders to express their agreement on the revised terms of the $3.2 billion bonds due between 2024 and 2025, pushing it back to January 2 from the initial deadline of December 27. VRL is seeking bondholders' approval to amend the terms and covenants of its dollar-denominated bonds.
Vedanta Resources confident of bond recast plan success
An ad hoc group holding two guaranteed bonds of Vedanta Resources (VRL) has advised investors to reject the proposed bond restructuring outlined in the consent solicitation released on December 13. The ad hoc group includes holders of $1 billion 13.875% bonds due in January 2024, $1.2 billion 8.95% bonds due in March 2025 and two other bonds.
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