India New Issue-Indostar Capital Fin accepts bids for multiple tenor bonds - bankers

IndoStar Capital Finance

12/05/2023 15:31

MUMBAI, May 12 (Reuters) - India's Indostar Capital
Finance  INAC.NS  has accepted bids worth 2.55 billion rupees
($31.18 million) through sale of two bonds, one maturing in
three years and 10 days and the other in two years, three
bankers said on Friday.
    The company had invited bids from bankers and investors for
the issuances earlier in the day.
    Indostar will pay a coupon of 10.25% on bonds maturing in
over three years and has accepted bids worth 250 million rupees.
The issue also has a put option on May 15, 2025 with notes
maturing in May 2026.
    Separately, the company will pay a coupon of 9.95% on the
two-year bonds maturing in May 2025. The company has accepted
bids worth 2.3 billion rupees on this issue.
    The bonds are rated AA- by CRISIL and the issue will be
settled on Monday.
    In March, the company raised an aggregate of 5 billion
rupees via bonds maturing in 18 months and in two years.

($1 = 81.7800 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Saumyadeb Chakrabarty)
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