India New Issue-Spandana Sphoorty to issue 2-year bonds - traders

Spandana Sphoorty Financial

20/12/2022 03:49

MUMBAI, Dec 20 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  plans to raise 650 million rupees ($7.87
million) through bonds maturing in two years, three merchant
bankers said on Tuesday. 
    The lender has invited bids from investors and merchant
bankers on Wednesday on the National Stock Exchange's electronic
platform. 
    The company will offer a coupon of 11.50% on this issue and
the bonds are rated A by India Ratings. 
($1 = 82.5780 Indian rupees)
 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com;))