The stimulus package of the government has helped lift the mood of debt investors as Housing finance companies (HFCs) manage to generate ₹5,475 crore collectively. The spread or differential between top-rated corporate bonds and government papers narrowed to 80-90 basis points immediately after the government announced the relief package, compared with 90-100 bps prior to this. The gauge went for a drastic change as HDFC bonds with two-year maturity fetched 7 per cent as it raised ₹5,000 crore. NBFCs are slowly coming back to primary bond sales with number of queries rising,‖ said Ajay Manglunia, MD at JM Financial, adding that market appetite is gradually going up for NBFC papers. The market awaits more clarification on NBFC package, he said. Tata Housing mopped up ₹200 crore after paying 9.1 per cent to raise the three-year money. Indiabulls Housing Finance generated ₹1,030 crore, offering 9.1 per cent with three-year maturity.
📅Published on:
20 May 2020
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