India New Issue-Sundaram Finance accepts bids for 2-year bonds - traders

Sundaram Finance

20/03/2023 08:59

MUMBAI, March 20 (Reuters) - India's Sundaram Finance
Ltd  SNFN.NS  has accepted bids worth 5 billion rupees ($60.5
million) for bonds maturing in two years, three merchant bankers
said on Monday.
    The non-banking financial company will pay an annual coupon
of 8.15% on this issue, for which it had invited commitment bids
from bankers and investors earlier in the day, they said.
    The notes are rated AAA by Crisil and will be settled on
Tuesday.
    In November, the company had raised 9.55 billion rupees by
selling bonds maturing in two years and one month, and in three
years at 7.8983% and 7.91% coupons.

($1 = 82.6180 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Varun H K)
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