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

Sundaram Finance

20/09/2023 03:53

MUMBAI, Sept 20 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 7.50
billion rupees ($90.1 million) selling bonds maturing in two years, three merchant bankers said
on Wednesday.
    The company will pay an annual coupon of 7.89% on this issue for which it had invited bids
on Thursday, they said. 

Here is the list of deals reported so far on Sept. 20: 
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Sundaram       2-yr          7.89           7.50            Sept. 21     AAA (Icra)
 Finance                                                                  
                2-yr and 10   8.00           1 + 3           Sept. 21     AAA (Crisil,
 Axis Finance   mnts                                                      India Ratings)
                                                                          
                10-yr         7.79           5               Sept. 18     AAA (Crisil,
 Bajaj Finance                                                            India Ratings)
                                                                          
 
*Size includes base plus greenshoe for some issues


($1 = 83.2690 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))