India New Issue-Spandana Sphoorty accepts bids for 18-month bonds - traders

Spandana Sphoorty Financial

07/11/2022 07:02

MUMBAI, Nov 7 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  has accepted bids worth 500 million Indian
rupees ($6.08 million) for bonds maturing in 18 months, three
merchant bankers said on Monday. 
    The non-banking financial company will pay a coupon of
11.50% on this issue, and had invited commitment bids earlier in
the day, they said.
    The notes are rated A by India Ratings and the issue will
close for subscription on Wednesday.
    The issue has a put option at end of one year and will
mature in May 2024.
    In October, the company had raised 600 million rupees
selling bonds maturing in two years at an annual coupon of
12.00% on this issue.
($1 = 82.2150 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Janane Venkatraman)
 ((Dharamrajlalit.dhutia@tr.com))