India New Issue-Redington (India) to issue 2-month CP - traders

Redington

10/01/2023 08:54

MUMBAI, Jan 10 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds by selling commercial papers maturing in
two months, three merchant bankers said on Tuesday.
    The company will offer a yield of 6.90% on the issue and has
received commitments worth about 1 billion rupees ($12.23
million) so far, the bankers said.
    The notes are rated A1+ by ICRA.
($1 = 81.7850 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))