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

Mahindra and Mahindra Financial Services

24/09/2024 11:43

MUMBAI, Sept 24 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
plans to raise 12.50 billion rupees  ($149.50 million) through bonds maturing in three years and
three months, three bankers said on Tuesday. 
    The company has invited bids for the issue on Wednesday, they said.
 
  Here is the list of deals reported so far on Sept 24: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 M&M Financial     3 years and   To be decide   12.50           Sept. 25     AAA (Crisil)
                   3 months                                                  
 SIDBI             4 years and   7.34           80              Sept. 24     AAA (Crisil,
                   5 months                                                  Care)
 Aditya Birla      3 years       8.60           25              Sept. 23     AA (Crisil)
 Renewables                                                                  
 LIC Housing Aug    9 years and  To be decided           12+18  Sept 26      AAA (Crisil,
 2034 reissue         11 months                                              CareEdge)
 
    * Size includes base plus greenshoe for some issues


($1 = 83.6100 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia)
 ((Bhakti.Tambe@thomsonreuters.com))