Refile: India New Issue-Spandana Sphoorty to issue 1-year bonds - traders

Spandana Sphoorty Financial

13/12/2022 02:32

(Corrects to remove extraneous word from headline)
       MUMBAI, Dec 13 (Reuters) - India's Spandana Sphoorty
Financial  SPAD.NS  plans to raise 500 million rupees ($6.05
million) by selling bonds maturing in one year, three merchant
bankers said on Tuesday.
    The non-banking financial company has invited bids from
bankers and investors on Wednesday, they said.
    The notes are rated A by India Ratings and the issue will
close for subscription on Thursday.
    Last week, the company raised 1 billion rupees, selling
bonds maturing in 21 months at an annual coupon of 11.35%.
($1 = 82.6340 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)
 ((Dharamraj.dhutia@tr.com))