India New Issue-JM Financial ARC accepts bids for multiple tenor bonds  - traders

JM Financial

06/02/2023 09:20

MUMBAI, Feb 6 (Reuters) - India's JM Financial ARC has
accepted bids worth 3.50 billion rupees ($42.4 million) for
bonds maturing in two years and three months and in two years
and six months, two merchant bankers said on Monday.
    The company will pay an annual coupon of 10.20% on each
issue, and had invited bids from bankers and investors earlier
in the day, they said.
    The company accepted bids worth 1.75 billion rupees for each
issue, which will mature in May 2025 and August 2025.
    The notes are rated AA- by ICRA and will close for
subscription on Tuesday.
    Last week, it raised 4 billion rupees via the sale of bonds
maturing in three years at a coupon of 10.21%, payable on a
quarterly basis.
 
 ($1 = 82.6040 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))