India New Issue-M&M Financial accepts bids for 5-year bonds, bankers say

Mahindra and Mahindra Financial Services

31/05/2024 04:20

MUMBAI, May 31 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
has accepted bids worth 22.75 billion rupees ($270.10 million) for the sale of bonds maturing in
five years, three bankers said on Wednesday.
    The company will pay a coupon of 8.18% on the issue and had invited bids from bankers and
investors on Thursday, they said.
    
 
 Here is the list of deals reported so far on May 31: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 M&M             5 years           8.18           22.75  May 30       AAA (Crisil,
 Financial                                                            India Ratings)
 
*Size includes base plus greenshoe for some issues



($1 = 83.3040 Indian rupees)

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