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

Sundaram Finance

27/10/2022 08:40

MUMBAI, Oct 27 (Reuters) - India's Sundaram Finance
 SNFN.NS  has accepted bids worth 5 billion Indian rupees
($60.74 million) for zero-coupon bonds maturing in five years,
three merchant bankers said on Thursday.
    The non-banking financial company will offer a yield of
8.00% on the issue, and has invited commitment bids earlier in
the day, 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 = 82.3150 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia
Editing by Janane Venkatraman)
 ((Dharamrajlalit.dhutia@tr.com))