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

Redington

11/10/2022 11:00

MUMBAI, Oct 11 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds selling commercial papers maturing in more
than a month, three merchant bankers said on Tuesday.
    The supply-chain solutions company will offer a yield of
6.39% on this issue and has received commitments worth about 2
billion Indian rupees ($24.29 million), the bankers said.
    The notes are rated A1+ by ICRA and will mature on Dec. 7.
($1 = 82.3300 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia
Editing by Saumyadeb Chakrabarty)
 ((Dharamrajlalit.dhutia@tr.com))