India New Issue-JM Financial ARC to issue 3-year bonds - traders

JM Financial

31/01/2023 03:01

MUMBAI, Jan 31 (Reuters) - India's JM Financial ARC
plans to raise at least 1 billion rupees ($12.26 million)
through the sale of bonds maturing in three years, two merchant
bankers said on Tuesday. 
    The company will pay a coupon of 10.21% on the issue payable
on a quarterly basis, they said. 
    It has invited commitment bids from bankers and investors
for the issue on Wednesday, and it will close for subscription
on Thursday.
    The notes are rated AA- by ICRA and have a greenshoe option
to retain an additional 3 billion rupees. 
($1 = 81.5780 Indian rupees)
 (Reporting by Dharamraj Dhutia;
Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))