India New Issue-Sundaram Finance to issue 2-year bonds - bankers

Lodha Developers

29/08/2023 05:17

MUMBAI, Aug 29 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 5 billion
rupees ($60.5 million) through the sale of bonds maturing in two years, three merchant bankers
said on Tuesday.
    It will pay an annual coupon of 7.95% on this issue and has invited bids on Wednesday.
 
 Here is the list of deals reported so far on Aug. 29: 
                                                                        
 Issuer       Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                           bln rupees)*    date         
                                                                        
 Sundaram     2-yr          7.95           5               Aug. 30      AAA (ICRA)
 Finance                                                                
 Macrotech    3-yr          9.50           4.05            Aug. 30      A+ (ICRA)
 Developers                                                             
 *Size includes base plus greenshoe for some issuances
 
 ($1 = 82.6080 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))