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Bonds of DHFL traded in the secondary markets for the first time

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DHFL

Bonds were priced at Rs 22.39 against Rs 100 per unit face value, traders said.

Bonds of Dewan Housing Finance(DHFL) traded in the secondary markets for the first time since the embattled financier became the first from its industry to be put into administration.

These bonds, worth about Rs 20 crore, sold at a discount yielding about 80 percent, with traders saying Deutsche Bank was the buyer. Deutsche Bank declined to comment.

Bonds were priced at Rs 22.39 against Rs 100 per unit face value, traders said.

The demand for junk bonds has been picking up past three- four months with foreign banks like Barclays, Deutsche, Bank of America owning such papers. 

Those select banks have dedicated focus on distressed assets. They are either keeping those papers on their books or passing them to their offshore clients, ” said trader from a local bond house. 

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