Andhra Bank flips position, to redeem perpetual bonds
At first, the bank had last week decided not to exercise the “call option”, an early exit route for investors.
Saikat Das
HDFC Bank arm HDB Financial to raise $300 million in overseas loan
HSBC, State Bank of India, and Bank of Baroda are helping the company raise the loan.
Government borrowing may rise after RBI paused
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%.
Nirlon inks Real Estate Transaction with JP Morgan
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.
Bond yields down, but only for top-rated companies
“There is a paradox in the bond market,” said Pratapsingh Nathani, Beacon Trusteeship.
CDS data hint at upside for lenders
This suggests overseas investors expect banks to only get financially sounder from here, said analysts.
Lenders meet RBI, mull 4-month programme to resolve DHFL Case
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.
NCLT orders liquidation for Lanco Babandh
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
Jaypee Infra insolvency: NBCC, Suraksha Realty place final bids
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.
Dalal Street expects another 25 bps RBI rate cut: Poll
Since January, the RBI has cut the repo rate by 135 basis points.
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