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

Sundaram Finance

25/10/2022 03:26

MUMBAI, Oct 25 (Reuters) - India's Sundaram Finance
 SNFN.NS  plans to raise 5 billion Indian rupees ($60.44
million) selling zero-coupon bonds maturing in five years, three
merchant bankers said on Tuesday.
    The non-banking finance company will offer a yield of 8% on
the 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 by
selling bonds maturing in three years at an annual coupon of
7.40%.
 
 ($1 = 82.7270 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia; Editing by Savio D'Souza)
 ((Dharamrajlalit.dhutia@tr.com))