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Fortis Healthcare plans to raise 15.50 billion rupees via floating rate bonds

Ruchika SharmaWritten by Ruchika Sharma Published On 2024-12-16T17:29:39+05:30  |  Updated On 26 April 2025 4:56 PM IST
IHH Healthcare Seeks USD 1.7 Billion from Daiichi Sankyo Over Fortis Deal Disruption
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Mumbai: Fortis Healthcare is planning to raise 15.50 billion rupees through the sale of floating-rate bonds maturing in five years, according to three bankers. The bids have been invited from bankers and investors for the issue on Tuesday.

The issuer will sell these bonds at a spread of 192 basis points over the 12-month Mumbai Interbank Forward Offer Rate (MIFOR) and the coupon will be reset annually, Reuters reported. Fortis Healthcare did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Dec. 13: Issuer Tenure Coupon (in %) Issue size (in Bidding Rating bln rupees)* date Fortis 5 years spread over 15.50 Dec. 17 AA (Crisil) Healthcare MIFOR REC 10 years and 4 To be decided 7+33 Dec. 17 AAA (Crisil, months Icra, Care) REC 15 years To be decided 5+20 Dec. 17 AAA (Crisil, Dec 2039 reissue Icra, Care) NHB 6 years, 9 months To be decided 10+30 Dec. 17 AAA (India and 14 days Ratings, Care) 15 years To be decided 20+26 Dec. 16 AAA (India NPCIL Ratings) 2 years 7.75 10 Dec. 12 AAA (Icra) Sundaram Finance L&T 3 years 7.75 5 Dec. 12 AAA (Crisil) Finance 5 years and 5 7.40 48.64 Dec. 12 AAA (Crisil, NABARD months Icra) IRFC 10 years 7.09 23.45 Dec. 12 AAA (Crisil, Icra) * Size includes base plus greenshoe for some issues ($1 = 84.8360 Indian rupees)
Read also: Fortis Healthcare gets CCI nod to acquire additional 31.52 per cent stake in Agilus for Rs 1,780 crore
Medical Dialogues team had earlier reported that Fortis Healthcare's board had approved raising up to Rs 1,500 crore through the issuance of non-convertible debentures via private placement.
Read also: Fortis Healthcare to Raise Rs 1,500 Crore Through NCDs


fortis healthcarefortis healthcare newsbond
Source : with inputs
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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