List of NCD Issuance’ till mid-May – its same old story!

The thirty day window for the fourth and last tranche of TLTRO-1 will close in another one week and its already been more than twenty days since bidding for TLTRO-2 took place, however the NCD issuance data till date (15th May) shows that there hasn’t been any trickle down of capital to lower rated entities yet.

Almost rupees thirty thousand crore worth of NCDs have been raised during the first half of May – this excludes the publicly placed NCDs and Market Linked Debentures. The data (below) shows that virtually all these NCDs have been issued by AA/AAA category issuers.   

Rating Wise Distribution ( in INR .Crs)

Rating CategoryIssuance Size %. of Total Issuance
AAA2753091.3%
AA+250.1%
AA23007.6%
AA-2000.7%
A150.1%
Unrated690.2%
Grand Total30139100%

Sector Wise Issuance Split ( in INR. Crs )

SectorIssuance Size% of Total Issuance
Finance – NBFC1012533.6%
Refineries800026.5%
Finance – Housing749524.9%
Bank – Public20006.7%
Engineering-Construction14504.8%
Others10693.6%
Grand Total30139100%

The trend so far is similar to the April 2020 NCD issuance figures. Hope the second half of the month is more benign to lower rated issuers and the funds raised by banks under TLTRO 2.0 start getting channeled to them.

Fact- Sheet for the Month (1st May 2020 – 15th May 2020)

ISINName of IssuerIssue SizeTransaction Date
INE535H07BH2FULLERTON INDIA CREDIT COMPANY LTD1,00014-05-2020
INE414G07EQ7MUTHOOT FINANCE LIMITED50014-05-2020
INE685A07116TORRENT PHARMACEUTICALS LIMITED20014-05-2020
INE002A08633RELIANCE INDUSTRIES LIMITED50013-05-2020
INE516Y07147PIRAMAL HOUSING FINANCE PRIVATE LIMITED50013-05-2020
INE128S07424FIVE-STAR BUSINESS FINANCE LIMITED1513-05-2020
INE774D07TO4MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED20013-05-2020
INE002A08625RELIANCE INDUSTRIES LIMITED3,50013-05-2020
INE557F08FJ5NATIONAL HOUSING BANK2,00013-05-2020
INE002A08641RELIANCE INDUSTRIES LIMITED4,00013-05-2020
INE001A07SL6HOUSING DEVELOPMENT FINANCE CORPORATION LTD.5,00013-05-2020
INE033L07GV0TATA CAPITAL HOUSING FINANCE LIMITED50012-05-2020
INE031A08798HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED1,47012-05-2020
INE667F07HS1SUNDARAM BNP PARIBAS HOME FINANCE LIMITED2511-05-2020
INE027E07BG9L&T FINANCE LIMITED75011-05-2020
INE020B08CU7RURAL ELECTRIFICATION CORPORATION LIMITED3,74011-05-2020
INE134E08KQ1POWER FINANCE CORPORATION LTD.2,92008-05-2020
INE522D07BI7MANAPPURAM GENERAL FINANCE & LEASING LIMITED50008-05-2020
INE202E08060INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED50008-05-2020
INE486H07015KRIBHCO FERTILIZERS LIMITED20008-05-2020
INE530B07021IIFL HOLDINGS LIMITED10008-05-2020
INE018A08BB5LARSEN AND TOUBRO LIMITED1,45006-05-2020
INE883F07173AADHAR HOUSING FINANCE LIMITED50005-05-2020
INE413W07018SANDLA WIND PROJECT PRIVATE LIMITED6904-05-2020
(Amount in INR. Crs)

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top
Social media & sharing icons powered by UltimatelySocial
error

Please spread the word and grow the tribe:)

LinkedIn