India New Issue-Piramal Finance to issue over 3-year bonds, bankers say
India New Issue-Piramal Finance to issue over 3-year bonds, bankers say MUMBAI, Sept 17 (Reuters) - India's Piramal Finance PIRL.NS plans to raise 20 billion rupees ($208.60 million), which includes a greenshoe option of 15 billion rupees, through the sale of three-year and one-month bonds, three bankers said on Thursday.
The company will pay an annual coupon of 8.57% and has invited commitment bids for the issue on Friday, they said.
Piramal Finance did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Piramal Finance | 3 year and 1 month | 8.57 | 5+15 | September 18 | AA (Care) |
TVS Credit Services | 3 years | 7.29 | 7.50+2.50 | September 18 | AA+ (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 95.8775 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
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