India New Issue-MRF accepts bids for 3-year bonds - traders

MRF

23/02/2023 09:54

MUMBAI, Feb 23 (Reuters) - India's MRF  MRF.NS  has
accepted bids worth 1.50 billion rupees ($18.13 million) for
sale of bonds maturing in three years, two merchant bankers said
on Thursday.
    The company will pay a coupon that would be 84 basis points
above the 182-day Treasury Bill yield, and had invited bids from
bankers and investors earlier in the day, they said.
    The notes are rated AAA by CARE Ratings, and the issue will
close for subscription on Friday. 
      ($1 = 82.7500 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Sherry Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))