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

Redington

08/03/2023 03:19

MUMBAI, March 8 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds by selling commercial papers maturing
within this month, three merchant bankers said on Wednesday.
    The company will offer a yield of 7.30% on the issue and has
received commitments worth about 1 billion rupees  ($12.18
million) thus far, the bankers said.
    The notes are rated A1+ by ICRA and the terms of the deal
were set on Monday.

($1 = 82.0880 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))