India New Issue-Sundaram Finance accepts bids for bond issue - bankers

Sundaram Finance

08/06/2023 10:42

MUMBAI, June 8 (Reuters) - India's Sundaram Finance  SNFN.NS  has accepted bids worth 5
billion rupees ($60.57 million) for bonds maturing in two years, three merchant bankers said on
Thursday.
    It had invited bids for the issuances earlier in the day. In March, the company raised five
billion rupees through bonds maturing in two years at 8.15% coupon.
    
 Below is the list of deals reported so far on June 8:
                                                                                    Rating
 Issuer            Tenure                     Issue size (in            
                                     Coupon   bln rupees)*    Bidding   
                                     (in %)                   date      
                                                                        
                                                                        
 Sundaram Finance  2-yr              7.74     5               June 8    AAA (ICRA)
 Northern Arc      1-yr and 1 mnt    9.00     0.25 + 0.75     June 9    AA- (ICRA)
 Capital                                                                
                   3-yr and 3 mnts   7.44     60              June 8    AAA(CARE Ratings, ICRA)
 SIDBI                                                                  
                                                                        
 
*Size includes base plus greenshoe for some issuance


($1 = 82.5525 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))