India New Issue-Spandana Sphoorty accepts bids for multiple tenor bonds -traders

Spandana Sphoorty Financial

29/12/2022 08:59

MUMBAI, Dec 29 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  has accepted bids worth an aggregate of 3
billion rupees ($36.24 million) for bonds maturing in two years
and four months, and in three years, three merchant bankers said
on Thursday.
    The lender will pay an annual coupon of 11.35% on each issue
and has accepted bids worth 2 billion rupees on the shorter
paper and 1 billion rupees on three-year papers, they said.
    It had invited bids from investors and merchant bankers
earlier in the day and the issues will close for subscription on
Friday.
    The bonds are rated A by India Ratings and the issues have a
put option at the end of 14 months and 20 months. 
    Earlier this month, the company raised 650 million rupees
through bonds maturing in two years at an annual coupon of
11.50%.
($1 = 82.7750 Indian rupees)
 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))