India New Issue-Sundaram Finance accepts bids for multiple tenor bonds - traders

Sundaram Finance

17/11/2022 08:15

MUMBAI, Nov 17 (Reuters) - India's Sundaram Finance
 SNFN.NS  has accepted bids worth an aggregate of 9.55 billion
Indian rupees ($117.18 million) for bonds maturing in two years
and one month, and in three years, three merchant bankers said
on Thursday.
    The non-banking financial company has accepted bids worth 7
billion rupees for two-year-and-one-month bonds at an annual
coupon of 7.8983%, while it accepted bids of 2.55 billion rupees
for three-year notes at 7.91% coupon, they said.
    It had invited commitment bids from bankers and investors
earlier in the day, and the issues will close for subscription
on Friday.
    The notes are rated AAA by CRISIL and will mature in
December 2024 and November 2025.
    In October, the company had raised 5 billion rupees by
selling zero-coupon bonds maturing in five years at a yield of
8.00%.
($1 = 81.5000 Indian rupees)
 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))