India New Issue-MRF to issue 3-year bonds - traders

MRF

16/02/2023 12:07

MUMBAI, Feb 16 (Reuters) - India's MRF  MRF.NS  plans to
raise 1.50 billion rupees ($18.15 million) through sale of bonds
maturing in three years, two merchant bankers said on Thursday.
    The company has invited bids from bankers and investors on
Monday, they said.
    It will pay a coupon that would be linked to 182-day
Treasury Bill yield. 
    The notes are rated AAA by CARE Ratings and the issue will
close for subscription next week. 
    ($1 = 82.6520 Indian rupees)
 (Reporting by Dharamraj Dhutia)
 ((Dharamraj.dhutia@tr.com))