India New Issue-SIDBI sets 7.75% coupon for over 3-year bonds - traders

CARE Ratings

12/10/2022 08:26

MUMBAI, Oct 12 (Reuters) - Small Industries Development
Bank of India (SIDBI) has set 7.75% coupon for bonds maturing in
three years and 13 days, three merchant bankers said on
Wednesday.
    The state-run company had invited coupon and commitment bids
from bankers and investors earlier in the day and has accepted
bids worth 40 billion rupees ($486.31 million), the merchant
bankers said.
    The notes are rated AAA by CARE Ratings and the issue will
close for subscription later this week.
    The issue will mature on Oct. 27, 2025.
    In September, the company had raised 40 billion rupees
selling bonds maturing in three years and six months at an
annual coupon of 7.23%.
    ($1 = 82.2525 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia; 
Editing by Sherry Jacob-Phillips)
 ((Dharamrajlalit.dhutia@tr.com))