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India New Issue-Aditya Birla Sun Life Insurance to issue 10-year bonds, bankers say

MUMBAI, March 5 (Reuters) - India's Aditya Birla Sun Life Insurance Company plans to raise 5 billion rupees ($54.69 million) through the sale of bonds maturing in 10 years, three bankers said on Thursday.

It will pay a coupon of 7.90% and invited commitment bids for the issue on Monday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on March 5:

IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
Aditya Birla Sun Life Insurance Company10 Years7.905March 9AAA (Crisil, India Ratings)
Altius Telecom Infrastructure Trust7 years7.5014.50March 6AAA (Crisil,care)
NEEPCO Staggered Redemption Bonds10 yearsTo be decided2.5+5March 9AA (Care, India Ratings)
*Size includes base plus greenshoe for some issues ($1 = 91.4250 Indian rupees) (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrishnan Nair) ((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

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