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

Sundaram Finance

14/01/2025 07:27

MUMBAI, Jan 14 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 10 billion
rupees ($115.6 million) selling bonds maturing in three years, three merchant bankers said on
Tuesday.
    The company will pay a coupon of 7.70% on the issue and has invited bids from bankers and
investors on Wednesday, they said.
    Sundaram Finance did not immediately reply to a Reuters email seeking comment.
    
 
   Here is the list of deals reported so far on Jan. 14: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Sundaram   3 years       7.70           10              Jan. 15      AAA (Icra)
 Finance                                                              
            5 years       To be decided  5               Jan. 15      AA+ (Crisil)
   Muthoot                                                            
 Finance                                                              
                                                                      
                10 years  To be decided            5+25  Jan. 15      AAA (Crisil,
   IRFC                                                               Icra, Care)
                                                                      
    
 *Size includes base plus greenshoe for some issues



($1 = 86.5380 Indian rupees)

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