India New Issue-Sundaram Finance accepts bids for 2-year bonds, bankers say

Sundaram Finance

13/12/2024 02:54

MUMBAI, Dec 13 (Reuters) - India's Sundaram Finance  SNFN.NS  has accepted bids worth 10
billion rupees ($117.85 million) for bonds maturing in two years, three merchant bankers said on
Friday.
    The company will pay a coupon of 7.75% on the bond issue and invited bids from bankers and
investors on Thursday, they said.
    Sundaram Finance did not immediately reply to a Reuters email seeking comment.
    
 
   Here is the list of deals reported so far on Dec. 13: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Sundaram   2 years       7.75           10              Dec. 12      AAA (Icra)
 Finance                                                              
            3 years       7.75           5               Dec. 12      AAA (Crisil)
   L&T                                                                
 Finance                                                              
                                                                      
            5 years and   7.40           48.64           Dec. 12      AAA (Crisil,
   NABARD   5 months                                                  Icra)
                                                                      
                10 years           7.09           23.45  Dec. 12      AAA (Crisil,
   IRFC                                                               Icra)
                                                                      
 
   * Size includes base plus greenshoe for some issues



($1 = 84.8550 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)
 ((Dharamraj.dhutia@tr.com))