India New Issue-M&M Financial accepts bids for 10-year bonds, bankers say

Mahindra and Mahindra Financial Services

08/10/2024 04:09

MUMBAI, Oct 8 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS  has
accepted bids worth 7.50 billion rupees ($89.32 million) for subordinated bonds maturing in 10
years, three bankers said on Tuesday.
    The company will pay an annual coupon of 8.24% and had invited bids for the issue on Monday,
they said.
    
 
  Here is the list of deals reported so far on Oct. 8: 
                                                                        
 Issuer       Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                           bln rupees)*    date         
                                                                        
 M&M          10 years      8.24           7.50            Oct. 7       AAA (Crisil)
 Financial                                                              
 Aethon        2 years and  To be decided            4.45  Oct. 11      A- (CareEdge)
 Developers       6 months                                              
 
*Size includes base plus greenshoe for some issues



($1 = 83.9710 Indian rupees)

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