India New Issue-Sundaram Finance to issue 2-year bonds - bankers

Sundaram Finance

07/06/2023 03:45

MUMBAI, June 7 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 5 billion
rupees ($60.59 million) through the sale of bonds maturing in two years, three merchant bankers
said on Wednesday.
    It has invited bids for the issuances on Thursday. In March, the company had 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 7:
                                                                           
 Issuer            Tenure                     Issue size (in  Bidding      Rating
                                     Coupon   bln rupees)*    date         
                                     (in %)                                
                                                                           
                                                                           
 Sundaram Finance  2-yr              7.74     5               June 8       AAA (ICRA)
 Vivriti Capital   1-yr and 11 mnts  8.90     0.75            June 8       A (ICRA)
                    2-yr and 2 mnts     7.70            3.75  June 6       AAA (Crisil)
 Bajaj Finance                       (yield)                               
 Aug 2025 reissue                                                          
                                                                           
                   9-yr and 11 mnts  7.68     5.75            June 6       AAA (Crisil)
 Bajaj Finance                       (yield)                               
 May 2033 reissue                                                          
                                                                           
                               5-yr  7.73                  5  June 6       AAA (Crisil)
 Bajaj Finance                                                             
                                                                           
 
*Size includes base plus greenshoe for some issuances

($1 = 82.5180 Indian rupees)

 (Reporting by Dharamraj Dhutia;
Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))