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

Sundaram Finance

11/12/2024 06:56

MUMBAI, Dec 11 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise
10 billion rupees ($117.88 million) through the sale of bonds maturing in two years,
three merchant bankers said on Wednesday.
    The company will pay a coupon of 7.75% on the bond issue, and has invited bids
from bankers and investors on Thursday, they said.
    Sundaram Finance did not immediately reply to a Reuters email seeking comment. 
    
 
  Here is the list of deals reported so far on Dec. 11: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Sundaram   2 years       7.75           10              Dec. 12      AAA (Icra)
 Finance                                                              
            10 years      To be decided  30              To be        AA (Crisil,
   Punjab                                                decided      India Ratings)
 & Sind                                                               
 Bank                                                                 
                                                                      
            5 years       7.14           25              Dec. 11      AAA (Crisil,
   EXIM                                                               Icra)
 Bank                                                                 
                                                                      
            10 years      To be decided  5+25            Dec. 12      AAA (Crisil,
   IRFC                                                               Icra)
                                                                      
            5 year and 5  To be decided           30+40  Dec. 12      AAA (Crisil,
   NABARD         months                                              Icra)
                                                                      
 
*Size includes base plus greenshoe for some issues

($1 = 84.8310 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))