India New Issue-Sundaram Finance to issue 8-month CP-traders

Sundaram Finance

02/11/2022 09:55

MUMBAI, Nov 2 (Reuters) - India's Sundaram Finance
 SNFN.NS  plans to raise funds by selling commercial papers
maturing in eight months, three merchant bankers said on
Wednesday.
    The non-banking financial company will offer a yield of
7.68% on the issue and has received commitments worth around
3.50 billion Indian rupees ($42.32 million)so far, the bankers
said.
    The notes are rated A1+ by ICRA and will mature in July. 
($1 = 82.7060 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia
Editing by Janane Venkatraman)
 ((Dharamrajlalit.dhutia@tr.com))