At first, the bank had last week decided not to exercise the “call option”, an early exit route for investors.
HSBC, State Bank of India, and Bank of Baroda are helping the company raise the loan.
The Overnight Interest Rate Swap (OIS) with one-year maturity, a derivative gauge where investors exchange fixed rates for floating, surged 24 basis points to 5.26%, suggesting that traders do not expect any rate reduction for now. The repo rate, or the rate at which banks access funds from the lender of last resort, remained at 5.15%.
J.P. Morgan will take up about 1.15 million sq. ft. of office space that is expected to be delivered by the second quarter of 2021, the company said in release. NKP has a site area of 23 acres and is located on Mumbai’s Western Express Highway in Goregaon.
“There is a paradox in the bond market,” said Pratapsingh Nathani, Beacon Trusteeship.
This suggests overseas investors expect banks to only get financially sounder from here, said analysts.
Banks have proposed a four-month programme to resolve the Dewan Housing Finance (DHFL) case, the biggest bankruptcy case in the financial services sector after the Insolvency and Bankruptcy Code.
The bankruptcy court removed the resolution professional for the Lanco group company, and appointed a liquidator from AAA Insolvency Professionals to sell off the assets
NBCC has advanced the completion date to 42 months from 48 earlier and has also increased the land offered to lenders by 100 acres to 1,526 acres. It has also proposed to increase the concession agreement of Yamuna Expressway by 10 years. The final voting of the committee of creditors (CoC) is likely to take place on December 11.
Since January, the RBI has cut the repo rate by 135 basis points.
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