India New Issue-JM Financial ARC accepts bids for 3-year bonds- traders

JM Financial

11/04/2023 08:03

MUMBAI, April 11 (Reuters) - India's JM Financial ARC
has accepted bids worth 300 million rupees ($3.66 million) for
bonds maturing in three years, two merchant bankers said on
Tuesday.
    The company will pay an annual coupon of 9.00% and had
invited bids from bankers and investors earlier in the day, they
said.
    The notes are rated AA- by ICRA and will be settled on
Wednesday.
    In February, it raised 3.50 billion rupees through the sale
of bonds maturing in two years and three months and in two years
and six months at an annual coupon of 10.20% on each issue.

($1 = 82.0470 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))