India New Issue-Sundaram Finance accepts bids for 3-year bonds, bankers say

Sundaram Finance

15/01/2025 09:17

MUMBAI, Jan 15 (Reuters) - India's Sundaram Finance  SNFN.NS  has accepted bids worth 10
billion rupees ($115.8 million) for bonds maturing in three years, three merchant bankers said
on Wednesday.
    The company will pay a coupon of 7.70% on the issue and had invited bids from bankers and
investors earlier in the day, they said.
    Sundaram Finance did not immediately reply to a Reuters email seeking comment.
    
 
    Here is the list of deals reported so far on Jan. 15
                                                                         
 Issuer        Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                            bln rupees)*    date         
                                                                         
 Sundaram      3 years       7.70           10              Jan. 15      AAA (Icra)
 Finance                                                                 
               10 years      7.23           50              Jan. 15      AAA (Crisil,
 Bank of                                                                 India Ratings)
 Baroda                                                                  
                                                                         
               5 years       7.77           4               Jan. 15      AAA (Crisil)
 ICICI Home                                                              
 Finance                                                                 
                                                                         
               10 years      7.25           27.80           Jan. 15      AAA (Crisil,
 IRFC                                                                    Icra, Care)
                                                                         
 
*Size includes base plus greenshoe for some issues

($1 = 86.3730 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))