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

Sundaram Finance

17/03/2023 04:21

MUMBAI, March 17 (Reuters) - India's Sundaram Finance
Ltd  SNFN.NS  plans to raise 5 billion rupees ($60.6 million)
through the sale of bonds maturing in two years, three merchant
bankers said on Friday.
    The non-banking financial company will pay an annual coupon
of 8.15% for this issue, and has invited commitment bids from
bankers and investors on Monday, they said.
    The notes are rated AAA by Crisil and will be settled on
Tuesday.
    In November, the company had raised 9.55 billion rupees
selling bonds maturing in two years and one month, and in three
years at 7.8983% and 7.91% coupons.
    
    ($1 = 82.4890 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))