India New Issue-Sundaram Finance to issue 3-year bonds - bankers

Sundaram Finance

23/10/2023 03:55

MUMBAI, Oct 23 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 5 billion
rupees ($60.14 million) selling bonds maturing in three years, three merchant bankers said on
Monday.
    The company will pay an annual coupon of 8.04% on this issue, for which it has invited bids
on Wednesday, they said.
    
 
 Here is the list of deals reported so far on Oct. 23: 
                                                                            
 Issuer           Tenure        Coupon (in %)  Issue size (in  Bidding      
                                               bln rupees)*    date         Rating
                                                                            
                                                                            
 Sundaram         3 yr          8.04           5               Oct. 25      AAA
 Finance                                                                    (Crisil)
                    2 yr and 2        8.2134%           1 + 3  Oct. 25      AAA
 Kotak Mahindra           mnts                                              (Crisil)
 Investments                                                                
                                                                            
                    3 yr and 1  8.2185%                 1 + 2  Oct. 25      AAA
 Kotak Mahindra            mnt                                              (Crisil)
 Investments                                                                
                                                                            
 
*Size includes base plus greenshoe for some issues

($1 = 83.1460 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))