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

JM Financial

19/05/2023 05:42

MUMBAI, May 19 (Reuters) - India's JM Financial ARC
plans to raise 500 million rupees ($6.11 million) by selling
bonds maturing in two years and 11 months, two merchant bankers
said on Friday.
    The company will pay an annual coupon of 10.20% and had
invited bids from bankers and investors on Monday, 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 Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))