India New Issue-Sundaram Finance to issue 5-year bonds - bankers

Sundaram Finance

04/08/2023 07:13

(NOTE TO SUBSCRIBERS: Reuters is considering discontinuing the following 'India New Issue'
report. If you have feedback or questions, please contact India Financial News Editor Ira Dugal
Ira.Dugal@thomsonreuters.com prior to August 7)
       MUMBAI, Aug 4 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 7.50 billion
rupees ($90.59 million) selling bonds maturing in five years, three merchant bankers said on
Friday. 
    It will pay an annual coupon of 7.75% and has invited bids for on Monday. In June, the
company raised five billion rupees through bonds maturing in two years at 7.74% coupon.


 Below is the list of deals reported so far on Aug 4:
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 Sundaram Finance           5-yr           7.75            7.50  August 7     AAA (ICRA)
 Renew Fazilka              3-yr  9.55                     2.50  August 7     A+ (Care)
 Solar Power                                                                  
 
*Size includes base plus greenshoe for some issuances



($1 = 82.7910 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))