India New Issue-Redington (India) to issue Feb-end CP - traders

Redington

03/01/2023 06:35

MUMBAI, Jan 3 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds by selling commercial papers maturing at
the end of February, three merchant bankers said on Tuesday.
    The company will offer a yield of 7.05% on the issue and has
received commitments worth about 5 billion rupees ($60.41
million) so far, the bankers said.
    The notes are rated A1+ by ICRA.
($1 = 82.7725 Indian rupees)
 (Reporting by Dharamraj Dhutia; editing by Uttaresh.V)
 ((Dharamraj.dhutia@tr.com))