India New Issue-Spandana Sphoorty accepts bids for 1-year bonds - traders

Spandana Sphoorty Financial

14/12/2022 08:55

MUMBAI, Dec 14 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  has accepted bids worth 500 million rupees
($6.07 million) for bonds maturing in one year, three merchant
bankers said on Tuesday.
    The non-banking financial company will pay a coupon of
11.50% on this issue and had invited bids from bankers and
investors earlier in the day, they said.
    The notes are rated A by India Ratings and the issue will
close for subscription on Thursday.
    Last week, the company raised 1 billion rupees, selling
bonds maturing in 21 months at an annual coupon of 11.35%.
($1 = 82.4250 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))