India New Issue-Spandana Sphoorty to issue 3-year bonds - traders

Spandana Sphoorty Financial

27/12/2022 12:38

MUMBAI, Dec 27 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  plans to raise 1 billion rupees ($12.07
million) selling bonds maturing in three years, three merchant
bankers said on Tuesday.
    The lender will pay an annual coupon of 11.35% on the issue
and has invited bids from investors and merchant bankers on
Thursday, they said.
    The bonds are rated A by India Ratings and the issue will
close for subscription on Friday.
    The issue has a put/call option at the end of 20 months. 
    Earlier this month, the company had raised 650 million
rupees through bonds maturing in two years at an annual coupon
of 11.50%. 
($1 = 82.8760 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Devika Syamnath)
 ((Dharamraj.dhutia@tr.com))