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    CHOLAFIN — Cholamandalam Investment and Finance News Story

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    India New Issue-Cholamandalam plans its largest private issue via floating-rate bonds

    Picture of Cholamandalam Investment and Finance logoCholamandalam Investment and Finance
    22/05/2026 04:27
    MUMBAI, May 22 (Reuters) - India's Cholamandalam Investment and Finance Company CHLA.NS plans to raise up to 50 billion rupees ($519.75 million) through floating-rate bonds maturing in two years and nine months, marking its largest-ever private debt issuance, three bankers said on Friday.

The bonds will carry an initial coupon of 8.12%, with subsequent resets linked to the three-month Treasury bill yield plus a spread of 275 basis points, they said, adding that the company had invited commitment bids for the issue on Monday.

The company confirmed the details on email.

 Here is the list of deals reported so far on May 22:


    IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
    Cholamandalam Investment and Finance Company2 years and 9 months8.12 + 275 bps spread50May 25AA+(Icra, Care)
    

*Size includes base plus greenshoe for some issues

($1 = 96.2000 Indian rupees)

 (Reporting by Khushi Malhotra; Editing by Subhranshu Sahu)

 ((Khushi.malhotra@tr.com))

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