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

Sundaram Finance

18/06/2024 03:51

MUMBAI, June 18 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 7.50
billion rupees ($89.8 million) through the sale of bonds maturing in three years, three bankers
said on Tuesday.
    The company will pay a coupon of 8.12% on the bond issue and will invite bids from bankers
and investors later this week, they said.

    
 
  Here is the list of deals reported so far on June 18: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 Sundaram Finance  3 years       8.12           7.50            To be        AAA (Icra)
                                                                decided      
 HDB Financial     1 year and 9  To be decided            5+15  June 19      AAA (Crisil,
 Apr 2026 reissue        months                                              Careedge)
 
*Size includes base plus greenshoe for some issues



($1 = 83.5120 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))