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

Mahindra and Mahindra Financial Services

22/01/2025 07:40

MUMBAI, Jan 22 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
plans to raise 7 billion rupees (nearly $81 million), including a greenshoe option of 5 billion
rupees, through the sale of bonds maturing in 10 years and four months, three bankers said on
Wednesday.
    The company has invited bids from bankers and investors for the issue on Thursday, they
said.
    The company did not immediately reply to a Reuters email seeking comment. 
    
 
  Here is the list of deals reported so far on Jan. 22: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 M&M        10 years and  To be decided             2+5  Jan. 23      AAA (India
 Financial      4 months                                              Ratings)
 *Size includes base plus greenshoe for some issues
 
 ($1 = 86.5450 Indian rupees)
    

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))