Latest news with #MIBOR
Economic Times
13 hours ago
- Business
- Economic Times
Lodha Developers raises over Rs 350 crore via NCDs
Lodha Developers has raised over Rs 350 crore through an issue of non-convertible debentures (NCDs). The company approved the allotment of 35,000 rated, listed, senior, secured, redeemable, taxable, and transferable NCDs on Monday. ADVERTISEMENT The NCDs carry a coupon rate of 3-month MIBOR plus a spread of 2.09%, translating to a current effective rate of 8.19% per annum, the company said in a regulatory filing. The coupon will reset quarterly, linked to the prevailing 3-month MIBOR, while the coupon payments will be made annually, starting July 21, 2026. The spread will be reduced by 10 basis points to 1.99% from the second coupon reset, i.e., six months after the deemed date of allotment. The redemption will take place at face value in eight quarterly instalments beginning March 31, 2026, with the final payment due on the maturity date of January 21, 2028. The securities are proposed to be listed on the Wholesale Debt Market segment of the Bombay Stock Exchange (BSE). The date of allotment for the NCDs is July 21, 2025. Ends (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
a day ago
- Business
- Time of India
Lodha Developers raises ₹350 crore via private placement of NCDs
NEW DELHI: Lodha Developers (formerly Macrotech Developers ) has raised ₹350 crore through a private placement of 35,000 rated, listed, senior, secured, redeemable, taxable, and transferable non-convertible debentures ( NCDs ), according to a regulatory filing with the stock exchanges on Monday. The debentures, carrying a face value of ₹1 lakh each, have been listed on the Wholesale Debt Market segment of BSE. The issuance was approved by the company's executive committee on July 21, 2025, with allotment and deemed date of allotment also on the same day. The NCDs carry a floating interest rate structure pegged to the three-month MIBOR with a spread of 2.09% per annum. Based on the prevailing MIBOR, the current coupon rate stands at 8.19% per annum. The coupon will reset quarterly and will be paid annually starting July 21, 2026. A downward revision in the spread by 10 basis points is scheduled from the second reset, six months after issuance. Redemption of the NCDs will be executed in eight equal quarterly instalments beginning March 31, 2026, with final maturity scheduled for January 21, 2028. The instrument is secured with a first-ranking charge over specified company assets, as outlined in the Key Information Document dated July 16, 2025. Additionally, the company recently raised ₹300 crore through the allotment of 30,000 NCDs at the same face value of ₹1 lakh each. These debentures offer a fixed interest rate of 7.96% per annum, payable quarterly starting September 30, 2025, and are scheduled to mature on July 7, 2028. The instrument is similarly secured, aimed at enhancing the company's funding profile and refinancing existing liabilities.
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Business Standard
2 days ago
- Business
- Business Standard
Govt changes timing of overnight rate release with effect from Aug 4
India has pushed the timing of publishing an overnight benchmark rate by two hours, with effect from August 4, Financial Benchmark India said. Financial Benchmark India will publish the daily Mumbai Interbank Offer Rate at 12:45 p.m. IST, instead of the current 10:45 a.m. IST, it said in a release dated July 18. "The benchmark rate will be computed from actual traded data in the call money market for the first three hours of trading, i.e. from 9 AM to 12 Noon, instead of the first one hour of trading data presently used for computation of MIBOR," the FBIL said. This move comes after FBIL started publishing a new overnight benchmark, the Secured Overnight Rupee Rate, which gets published daily at 12:45 p.m. IST. SORR is computed from actual traded data in the tri-party repo market and the basket repo trades of the market repo segment for the first three hours of trading. A committee set up by the Reserve Bank of India to review the MIBOR had recommended that to compute the rate, the first three hours of trades should be considered instead of the first one hour. Since about 70 per cent-80 per cent of the daily traded volume in the call money market is transacted in the first three hours of trading, data from that duration would enhance the representativeness of the benchmark, according to the committee.
Time of India
2 days ago
- Business
- Time of India
India changes time for release of key overnight benchmark rate
Financial Benchmark India has shifted the publication time of the Mumbai Interbank Offer Rate (MIBOR) to 12:45 p.m. IST, effective August 4. This adjustment aligns with the computation of MIBOR using the first three hours of trading data, enhancing the benchmark's representativeness. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India has pushed the timing of publishing an overnight benchmark rate by two hours, with effect from August 4, Financial Benchmark India Benchmark India will publish the daily Mumbai Interbank Offer Rate at 12:45 p.m. IST, instead of the current 10:45 a.m. IST, it said in a release dated July 18."The benchmark rate will be computed from actual traded data in the call money market for the first three hours of trading, i.e. from 9 AM to 12 Noon, instead of the first one hour of trading data presently used for computation of MIBOR ," the FBIL move comes after FBIL started publishing a new overnight benchmark, the Secured Overnight Rupee Rate , which gets published daily at 12:45 p.m. is computed from actual traded data in the tri-party repo market and the basket repo trades of the market repo segment for the first three hours of trading.A committee set up by the Reserve Bank of India to review the MIBOR had recommended that to compute the rate, the first three hours of trades should be considered instead of the first one about 70%-80% of the daily traded volume in the call money market is transacted in the first three hours of trading, data from that duration would enhance the representativeness of the benchmark, according to the committee.
Reuters
2 days ago
- Business
- Reuters
India changes time for release of key overnight benchmark rate
MUMBAI, July 21 (Reuters) - India has pushed the timing of publishing an overnight benchmark rate by two hours, with effect from August 4, Financial Benchmark India said. Financial Benchmark India will publish the daily Mumbai Interbank Offer Rate at 12:45 p.m. IST, instead of the current 10:45 a.m. IST, it said in a release dated July 18. "The benchmark rate will be computed from actual traded data in the call money market for the first three hours of trading, i.e. from 9 AM to 12 Noon, instead of the first one hour of trading data presently used for computation of MIBOR," the FBIL said. This move comes after FBIL started publishing a new overnight benchmark, the Secured Overnight Rupee Rate, which gets published daily at 12:45 p.m. IST. SORR is computed from actual traded data in the tri-party repo market and the basket repo trades of the market repo segment for the first three hours of trading. A committee set up by the Reserve Bank of India to review the MIBOR had recommended that to compute the rate, the first three hours of trades should be considered instead of the first one hour. Since about 70%-80% of the daily traded volume in the call money market is transacted in the first three hours of trading, data from that duration would enhance the representativeness of the benchmark, according to the committee.
