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

Sundaram Finance

19/10/2022 04:31

MUMBAI, Oct 19 (Reuters) - India's Sundaram Finance
 SNFN.NS  plans to raise 5 billion Indian rupees ($60.77
million) from sale of bonds maturing in five years, three
merchant bankers said on Wednesday. 
    The non-banking finance company will pay an annual coupon of
8.00% to the investors of this issue, and has invited commitment
bids on Thursday, they said.
    The notes are rated AAA by CRISIL and the issue will close
for subscription on Friday.
    In August, the company had raised 5 billion rupees selling
bonds maturing in three years at an annual coupon of 7.40%.
($1 = 82.2750 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia;
Editing by Neha Arora)
 ((Dharamrajlalit.dhutia@tr.com))