India New Issue-Sundaram Finance to issue 6-year bonds - bankers

Sundaram Finance

27/02/2024 02:53

MUMBAI, Feb 27 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise 20 billion
rupees (about $241 million) through sale of bonds maturing in six years, three merchant bankers
said on Tuesday.
    The company has invited coupon and commitment bids from bankers and investors on Wednesday,
they said.
    
 
  Here is the list of deals reported so far on Feb. 27
                                                                                  Rating
 Issuer                       Coupon (in %)  Issue size (in           
                    Tenure                   bln rupees)*    Bidding  
                                                             date     
                                                                      
                                                                      
 Sundaram Finance   6 years   To be decided  20              Feb. 28  AAA (Crisil)
             Axis    2 years  8.35           3+2             Feb. 27  AAA (Crisil, India
 Finance                                                              Ratings)
                                                                      
 Axis Finance Feb    3 years  To be decided  2+1             Feb. 27  AAA (Crisil, India
 2027 reissue                                                         Ratings)
                     5 years  To be decided               1  Mar. 1   AA+ (India Ratings,
 Vadodara                                                             AA (Crisil)
 Municipal Corp                                                       
                                                                      
 
* Size includes base plus greenshoe for some issues



($1 = 82.8660 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
 ((Dharamraj.dhutia@tr.com))