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Normally, those bonds are traded in the 10-20 per cent yield range with limited secondary market transactions taking place. Bond yields and prices move in the opposite directions.
A British bank headquartered in London, keen on owning securities of distressed company papers, is said to have bought those deeply discounted bonds from an offshore fund keen to exit the position, market sources said.
Such bonds worth Rs 20 crore changed hands in the secondary market amid market speculation that company might face liquidity pressure and needs immediate funds to improve its financials.
“The telecom<\/a> company has too tried to raise money from overseas market but has not yet finalised with tepid global investor confidence,” said an investment banker, who has dealt with the company The telecom company has been losing market share.
“One fund was desperate to exit Vodafone’s local bonds as it was sensing trouble in the company,” said a dealer with the knowledge of the matter.
Distress sales of bonds have been gaining ground past few months when troubled home financier Dewan Housing Finance and Reliance Capital bonds changed hands at the elevated yields 67 per cent and 96.8 per cent.
In terms of pricing Vodafone Idea bonds were traded at Rs 54.28 compared to its face value at Rs 100 apiece. The bonds were sold in January nearly three years ago.
In August CARE Ratings. downgraded Vodafone Idea’s non-convertible debentures to A from CARE A+ with a negative outlook.
“The revision in ratings assigned to the bank facilities\/instruments of Vodafone Idea Limited (VIL) is on account of further deterioration in the operational and financial performance of the company during Q1FY20,” the rating company said.
After the merger between Vodafone and Idea Cellular on August 31, 2018, Vodafone Idea started as India’s No 1 telco by customer market share – over 40 per cent – and revenue market share – over 35 per cent. Vodafone Idea chief technology officer Vishant Vora said that the telco possesses plenty of spectrum and is not in a desperate need to go out and get spectrum in the upcoming auction, ET reported on October 2.
The telecom industry<\/a> is in a serious debt situation and most of the debt is towards the government on spectrum that has been acquired so far.
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通常,这些债券交易在10 - 20百分之屈服范围有限的二级市场交易。债券收益率与价格相反的方向移动。
英国银行的总部设在伦敦,热衷于持有不良证券公司文件,据说买了那些深深从离岸贴现债券基金急于退出位置,市场消息人士表示。
这种债券在二级市场价值20卢比易手,市场猜测,公司可能面临的流动性压力,需要立即拨款改善其财务业绩。
“电信公司也试图筹集资金来自海外市场,但尚未敲定,不温不火的全球投资者的信心,”一位投资银行家说,他处理公司电信公司失去的市场份额。
“一基金急于退出沃达丰的地方债券作为传感公司的麻烦,“经销商与知识的表示。
遇险债券的销售一直在发展壮大过去几个月当麻烦家里金融家政府高级官员住房金融和资本的依赖债券易手的收益率提高67%和96.8%。
定价沃达丰的想法债券交易于54.28 Rs相比其面值以每股100卢比。1月份售出债券近三年前。
8月保健评级。下调了沃达丰想法不可自由兑换的债券从护理一个+,展望为负面。
“修改评级分配给沃达丰想法的银行设备/仪器有限公司(维尔)的进一步恶化公司的运营和财务表现Q1FY20期间,“评级公司说。
合并后,沃达丰(Vodafone)和细胞8月31日,2018年,沃达丰的想法开始在印度没有1电信客户的市场份额超过40% -和收入市场份额超过35%。沃达丰首席技术官想法Vishant Vora说电信拥有大量的光谱和不在一个绝望的需要出去在即将举行的拍卖中,频谱等报道10月2。
电信行业在严重的债务状况和大部分的债务是对政府迄今为止获得的光谱。
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