India New Issue-Spandana Sphoorty to issue 21-month bonds - traders

Spandana Sphoorty Financial

06/12/2022 07:04

MUMBAI, Dec 6 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS   plans to raise at least 500 million rupees
($6.08 million) selling bonds maturing in 21 months, three
merchant bankers said on Tuesday. 
    The non-banking financial company has invited bid from
bankers and investors on Thursday, they said.
    The notes are rated A by India Ratings and the issue will
close for subscription on Friday. 
    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 = 82.2570 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))