India New Issue-Shriram Housing Finance to issue 10-year bonds - traders

CARE Ratings

17/05/2023 03:36

MUMBAI, May 17 (Reuters) - India's Shriram Housing
Finance plans to raise at least 500 million rupees  ($6.1
million) through a sale of bonds maturing in 10 years, three
merchant bankers said on Wednesday.
    The company will pay an annual coupon of 9.10% on the issue,
and has invited bids from bankers and investors on Thursday, the
merchant bankers said.
    The bonds are rated AA+ by CARE Ratings and India Ratings,
and the issue will be settled on Friday.
    The issue has a greenshoe option to retain an additional 500
million rupees. 
    In April, the company had raised 250 million rupees selling
bonds maturing in three years and one month at a coupon of
8.95%.

($1 = 81.7800 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))