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

JM Financial

22/05/2023 11:41

MUMBAI, May 22 (Reuters) - India's JM Financial ARC has
accepted bids worth 500 million Indian rupees ($6.11 million)
for bonds maturing in two years and 11 months, two merchant
bankers said on Monday.
    The company will pay an annual coupon of 10.20% and had
invited bids from bankers and investors earlier in the day, they
said.
    The notes are rated AA- by Crisil and will be settled on
Tuesday.
    In April, it raised 300 million rupees through the sale of
bonds maturing in three years at an annual coupon of 9.00%.

($1 = 81.7800 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))