India New Issue-M&M Financial accepts bids for March 2027 bond reissue, bankers say

Mahindra and Mahindra Financial Services

14/03/2024 02:40

MUMBAI, March 14 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
has accepted bids worth 10 billion rupees (about $121 million) for reissue of 8.25% March 2027
bonds, three bankers said on Thursday.
    It will offer a yield of 8.28% and had invited bids from bankers and investors for the issue
on Wednesday, they said.

 
 Here is the list of deals reported so far on March 14
             Issuer                                                            
                     Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                  bln rupees)*    date         
                                                                               
 M&M Financial            3 years   8.28 (yield)              10  March 13     AAA (Crisil,
 March 2027 reissue                                                            India Ratings)
 
*Size includes base plus greenshoe for some issues



($1 = 82.8460 Indian rupees)

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