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

JM Financial

10/04/2023 03:30

MUMBAI, April 10 (Reuters) - India's JM Financial ARC
plans to raise at least 250 million  rupees ($3.05 million)
through the sale of bonds maturing in three years, two merchant
bankers said on Monday.
    The company will pay an annual coupon of 9.00% and has
invited bids from bankers and investors on Tuesday, they said.
    The notes are rated AA- by ICRA and will be settled on
Wednesday. 
    The issue has a greenshoe option to retain an additional 250
million rupees. 
    In February, it raised 3.50 billion rupees via the sale of
bonds maturing in two years and three months and in two years
and six months an annual coupon of 10.20% on each issue. 
($1 = 81.8600 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Nivedita
Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))