India New Issue-Mankind Pharma to issue multiple tenor bonds, bankers say

Mankind Pharma

09/10/2024 04:08

MUMBAI, Oct 9 (Reuters) - India's Mankind Pharma  MNKI.NS  plans to raise 50 billion
rupees ($595.82 million) through a sale of bonds maturing in 18 months, two years, and in three
years and one month, three bankers said on Wednesday.
    It will pay a coupon of 7.99% each on the shorter duration papers and 7.97% on the above
three-year bonds, and the coupon would be payable on a semi-annual basis.
    It has invited bids from bankers and investors for the issue on Monday, the bankers said. 
    Some mutual funds and insurance companies are anchor investors across the three options,
bankers added. 
    
 
 Here is the list of deals reported so far on Oct. 9: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Mankind    18 months     7.99           12.50           Oct. 15      AA+ (Crisil,
 Pharma                   (semi-annual)                               ICRA)
 Mankind         2 years           7.99           12.50  Oct. 15      AA+ (Crisil,
 Pharma                   (semi-annual)                               ICRA)
 Mankind     3 years and  7.97                       25  Oct. 15      AA+ (Crisil,
 Pharma          1 month  (semi-annual)                               ICRA)
 
*Size includes base plus greenshoe for some issues



($1 = 83.9180 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))