India New Issue-M&M Financial accepts bids for over 3-year bonds, bankers say

Mahindra and Mahindra Financial Services

31/01/2025 07:18

MUMBAI, Jan 31 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
has accepted bids worth 7.05 billion rupees ($81.4 million) for bonds maturing in three years
and three months, three bankers said on Friday.
    The company will pay an annual coupon of 7.8863% and had invited bids from bankers and
investors for the issue earlier in the day, they said.
    
 
   Here is the list of deals reported so far on Jan. 31: 
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 M&M Financial      3 years and   7.8863         7.05            Jan. 31      AAA (India
                    3 months                                                  Ratings)
             Bajaj  5 years       To be decided  5+25            Feb. 3       AAA (Crisil)
 Finance                                                                      
 Feb 2030 reissue                                                             
                                                                              
                    15 years      To be decided  20+30           Feb. 4       AAA (Crisil,
 NaBFID                                                                       Icra)
                                                                              
 
*Size includes base plus greenshoe for some issues




($1 = 86.6320 Indian rupees)

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