India New Issue-Spandana Sphoorty accepts bids for 21-month bonds - traders

Spandana Sphoorty Financial

07/12/2022 08:58

MUMBAI, Dec 7 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  has accepted bids worth 1 billion rupees
($12.12 million) for bonds maturing in 21 months, three merchant
bankers said on Wednesday.
    The non-banking financial company will pay a coupon of
11.35% for 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. 
    The issue has a put option in April 2024 and will mature in
September 2024.
    Last month, the company had raised 500 million rupees,
selling bonds maturing in 18 months at an annual coupon of
11.50%.
($1 = 82.4900 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))