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

Sundaram Finance

08/08/2023 03:32

(NOTE TO SUBSCRIBERS: Reuters will continue the following 'India New Issue' report, based on
feedback from readers. For any further information, please contact India Financial News Editor
Ira Dugal Ira.Dugal@thomsonreuters.com)
       MUMBAI, Aug 8 (Reuters) - India's Sundaram Finance  SNFN.NS  has accepted bids worth
7.50 billion rupees ($90.53 million) for bonds maturing in five years, three merchant bankers
said on Tuesday.
    It will pay an annual coupon of 7.75% and had invited bids for the issue on Monday. In June,
the company raised five billion rupees through bonds maturing in two years at 7.74% coupon. 
    
 
 Below is the list of deals reported so far on Aug 8:
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                                bln rupees)*    date         
                                                                             
 Sundaram Finance          5-yr           7.75            7.50  Aug. 7       AAA (ICRA)
 
* Size includes base plus greenshoe for some issuances

    ($1 = 82.8430 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))