India New Issue-Spandana Sphoorty accepts bids for 2-year bonds - traders

Spandana Sphoorty Financial

21/12/2022 09:20

MUMBAI, Dec 21 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  has accepted bids worth 650 million rupees
($7.86 million) for bonds maturing in two years, three merchant
bankers said on Wednesday.
    The lender will pay an annual coupon of 11.50% on the issue
and had invited bids from investors and merchant bankers earlier
in the day, they said.
    The bonds are rated A by India Ratings and the issue will
close for subscription on Thursday. 
    ($1 = 82.7300 Indian rupees)
 (Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))