India New Issue-Cholamandalam Investment accepts bids for subordinated bonds, bankers say
India New Issue-Cholamandalam Investment accepts bids for subordinated bonds, bankers say MUMBAI, June 24 (Reuters) - India's Cholamandalam Investment and Finance Company CHLA.NS accepted bids worth 20 billion rupees ($211.75 million) in a sale of subordinated bonds maturing in seven years, three bankers said on Thursday.
It will pay a coupon of 8.88% and had invited commitment bids for the issue on Wednesday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on June 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment and Finance Company | 7 years | 8.88 | 20 | June 24 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 94.4500 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))
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