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

Mahindra and Mahindra Financial Services

30/01/2025 04:34

MUMBAI, Jan 30 (Reuters) - India's Mahindra and Mahindra Financial Services  MMFS.NS 
plans to raise 7.50 billion rupees ($86.64 million), including a greenshoe option of 6 billion
rupees, through the sale of bonds maturing in three years and three months, three bankers said
on Thursday.
    The company has invited bids from bankers and investors for the issue on Friday, 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. 30: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                         bln rupees)*    date         
                                                                      
 M&M        3 years and   7.8863         1.50+6          Jan. 31      AAA (India
 Financial  3 months                                                  Ratings)
                 5 years           7.90               5  Jan. 29      AAA (Care)
   Can Fin                                                            
 Homes                                                                
                                                                      
 
*Size includes base plus greenshoe for some issues




($1 = 86.5700 Indian rupees)

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