India New Issue-M&M Financial Services accepts bids for bond issue, bankers say

Mahindra and Mahindra Financial Services

26/09/2024 07:49

MUMBAI, Sept 26 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
accepted bids worth 12.50 billion rupees ($149.42 million) for bonds maturing in three years and
three months, three bankers said on Thursday.
    The company will pay an annual coupon of 8.01% and had invited bids for the issue on
Wednesday, they said. 
    
 
    Here is the list of deals reported so far on Sept. 26: 
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                                 bln rupees)*    date         
                                                                              
 M&M Financial      3 years and   8.01           12.50           Sept. 25     AAA
                    3 months                                                  (Crisil)
                    1 year and 8  To be decided  0.5+1           Sept. 26     AA+
 Shriram Finance    months                                                    (Crisil)
 May 2026 reissue                                                             
                                                                              
 Shriram Finance    1 year and 9  To be decided  2.5+5.5         Sept. 26     AA+
 June 2026 reissue  months                                                    (Crisil)
 Shriram Finance    4 year and 8  To be decided  1+1             Sept. 26     AA+
 May 2029 reissue   months                                                    (Crisil)
                    3 years       To be decided  5               Sept. 26     AA-
 Avanse Financial                                                             (CareEdge)
 Services                                                                     
                                                                              
                         3 years  7.96 (payable               9  Sept. 25     AAA
 Embassy Office                      quarterly)                               (Crisil)
 Parks REIT                                                                   
                                                                              
 
   * Size includes base plus greenshoe for some issues

   ($1 = 83.6570 Indian rupees)

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