India New Issue-M&M Financial to issue 10-year bonds, bankers say

Mahindra and Mahindra Financial Services

07/10/2024 03:48

MUMBAI, Oct 7 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
plans to raise 7.50 billion rupees  ($89.32 million) through a sale of bonds maturing in 10
years, three bankers said on Monday.
    The company will pay an annual coupon of 8.24% and has invited bids for the issue later in
the day, they said.
    
 
 Here is the list of deals reported so far on Oct. 7: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      
                                         bln rupees)*    date         Rating
                                                                      
                                                                      
 M&M            10 years           8.24            7.50  Oct 7        AAA
 Financial                                                            (Crisil)
 
*Size includes base plus greenshoe for some issues



($1 = 83.9640 Indian rupees)

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