Financial bonds

Latest news | BIZ-EDELWEISS FINANCIAL-BONDS Edelweiss Financial Services will increase to Rs 200 Cr

Financial bonds

Mumbai, December 21 (PTI) Edelweiss Financial Services (EFSL) announced on Monday that it would increase to Rs 200 crore through the issuance of guaranteed and redeemable non-convertible debentures (NCDs).

The base size of the issue is Rs 100 crore, with an option to maintain an oversubscription up to Rs 100 crore, the company said in a statement.

The bonds offer an effective (cumulative) yield of 9.95% per annum for 120 months, 9.35% per annum for 36 months and up to 9.80% per annum for 60 months.

An additional maximum incentive of 0.20% per annum will be offered to all categories of investors in the proposed issue, who are also holders of bonds previously issued by the company and / or its group companies – ECL Finance , Edelweiss Housing Finance, Edelweiss Retail Finance and Edelweiss Finance and Investments and / or are shareholders of Edelweiss Financial Services, according to the press release.

The company said 75 percent of the funds raised through the issuance will be used for the purpose of prepaying / prepaying interest and principal on its existing borrowings and the balance is expected to be used for general corporate purposes. .

The issue will open on December 23, 2020 and close on January 15, 2021, with an early closing option, he said.

Care Ratings has evaluated the CARE A + offer; with a stable outlook and Brickwork Ratings India Private rated it BWR AA- / Stable (Assigned). The main manager of the issue is Equirius Capital Private. The bonds will be listed on the ESB. PTI HT

(This is an unedited, auto-generated story from the syndicated news feed, the staff at LatestLY may not have edited or edited the body of the content)


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An investor in “micro-surgery” targets financial obligations

Financial bonds

Mary Ellen Stanek, Managing Director and Director of Asset Management for Robert W. Baird & Co. and Chief Investment Officer for Baird Advisors.

Kevin J. Miyazaki / Redux

Mary Ellen Stanek, Chief Investment Officer of Baird Advisors, attributes a “micro-surgery” approach to her team’s success in managing the business. Baird Core Plus Bond funds and other bond funds, in this week’s Barron’s.

Stanek, writes Barron’s, “specializes in … adding base points of return and return here and there, doing old-fashioned credit analysis and picking stocks and sectors.”

Currently Stanek, who along with his team was a finalist for Morningstar Bond Manager of the Year 2016, enjoys utilities, industrials and financials.

The latter offers an attractive yield: The spread on the financial sector of the Investment-Grade Corporate Bond Index is 111 basis points, against 88 points before the financial crisis.

Financials “have more capital on their balance sheets. Regulators have curbed risk-taking activities. They are also less expensive compared to manufacturers than they have been in the past, ”explains Stanek. “By nature, we are better protected.

Stanek is not betting on the direction of interest rates, but expects Fed chief Yellen to follow through on her plan to continue to normalize rates. “She wants to have some dry powder to relax on the next downturn,” says Stanek. “We expect a couple of moves in total this year. ”

The bond bull market may be over, but Stanek doesn’t expect a substantial bear market. Aging Americans and institutional investors should be channeling more capital into the bond market, preventing the rate hike.


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