India New Issue-Spandana Sphoorty Financial to issue 2-year bonds - bankers

Spandana Sphoorty Financial

15/03/2023 05:02

MUMBAI, March 15 (Reuters) - India's Spandana Sphoorty
Financial Ltd  SPAD.NS  plans to raise 1.25 billion rupees
($15.2 million) through bonds maturing in two years, two
merchant bankers said on Wednesday.
    The company will pay a coupon of 10.50% on this bond issue,
for which it has invited bids from investors and bankers on
Thursday.
    The bonds are rated A by India Ratings.
    In December, the company had raised an aggregate of 3
billion rupees for bonds maturing in two years and four months,
and in three years, both at an annual coupon of 11.35%.
    
    ($1 = 82.4525 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Varun H K)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
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