India New Issue-M&M Financial to issue over 3-year bonds, bankers say

Mahindra and Mahindra Financial Services

31/07/2024 06:23

MUMBAI, July 31 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
plans to raise 15 billion rupees ($179.2 million), including a greenshoe option of 12.50 billion
rupees, through a sale of bonds maturing in three years and one month, three bankers said on
Wednesday.
    The company will pay a coupon of 8.18% on the issue and has invited bids from bankers and
investors on Thursday, they said.
    
 
  Here is the list of deals reported so far on July 31: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 M&M        3 years and   To be decided  2.50+12.50      Aug 1        AAA (Crisil,
 Financial  1 month                                                   India Ratings)
 
*Size includes base plus greenshoe for some issues

($1 = 83.7300 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakt Tambe; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))