India New Issue-Sundaram Finance accepts bids for 5-year bonds -traders

Sundaram Finance

20/10/2022 09:49

MUMBAI, Oct 20 (Reuters) - India's Sundaram Finance
 SNFN.NS  has accepted bids worth 5 billion Indian rupees ($60.3
million) for bonds maturing in five years, three merchant
bankers said on Thursday.
    The non-banking finance company will pay an annual coupon of
8% on the issue, and had invited commitment bids earlier today,
they said.
    The notes are rated AAA by CRISIL and the issue will close
for subscription on Friday.
    In August, the company had raised 5 billion rupees by
selling bonds maturing in three years at an annual coupon of
7.40%.
 
 ($1 = 82.9650 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia; Editing by Savio D'Souza)
 ((Dharamrajlalit.dhutia@tr.com))