India New Issue-GIC Housing Finance accepts bids for 21-month bonds – traders

GIC Housing Finance

23/02/2023 09:04

MUMBAI, Feb 23 (Reuters) - India's GIC Housing Finance
 GICH.NS  has accepted bids worth 3.25 billion rupees ($39.28
million) for bonds maturing in 21 months, two merchant bankers
said on Thursday.
    The non-banking finance company will pay an annual coupon of
8.70% on this issue and had invited coupon and commitment bids
from bankers and investors earlier in the day, they said.
    The notes are rated AA+ by CRISIL and the issue will close
for subscription on Friday.
    This is the first bond issue by the company in this
financial year, and will mature in November 2024.
    ($1 = 82.7425 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))