India New Issue-Redington (India) to issue 1-month CP

Redington

12/12/2022 10:19

MUMBAI, Dec 12 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds selling commercial papers maturing in one
month, three merchant bankers said on Monday.
    The company will offer a yield of 7.08% on the issue and has
received commitments worth about 5 billion Indian rupees ($60.60
million) so far, the bankers said.
    The notes are rated A1+ by ICRA.
($1 = 82.5150 Indian rupees)
 (Reporting by Bhakti Tambe; Editing by Devika Syamnath)
 ((Bhakti.Tambe@thomsonreuters.com;))