India New Issue-Kamat Hotels accepts bids for 4-yr bonds -traders

Kamat Hotels (India)

24/01/2023 02:28

MUMBAI, Jan 24 (Reuters) - Kamat Hotels (India)
 KAMT.NS  has accepted bids worth 2.98 billion Indian rupees
($36.6 million) for bonds maturing in four years, two merchant
bankers said on Tuesday.
    The company will pay a coupon of 14% on this issue on a
quarterly basis, they said.
    It had invited bids from bankers and investors for the issue
on Monday and the issue will close for subscription on
Wednesday.
    The bonds are provisionally rated C by Acuite Ratings, and
have a put option at the end of two years.
 
 ($1 = 81.4830 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))