India New Issue-Sundaram Finance to issue multiple tenor bonds - traders

Sundaram Finance

16/11/2022 03:55

MUMBAI, Nov 16 (Reuters) - India's Sundaram Finance
 SNFN.NS  plans to raise an aggregate of 9.55 billion Indian
rupees ($117.2 million) through bonds maturing in two years and
one month, and in three years, three merchant bankers said on
Wednesday.
    The non-banking financial company aims to raise 7 billion
rupees through two-year and one-month bonds and will pay an
annual coupon of 7.8983%, while it aims to raise 2.55 billion
rupees through three-year notes at 7.91% coupon, they said. 
    It has invited commitment bids from bankers and investors on
Thursday and the issues will close for subscription on Friday.
    The notes are rated AAA by CRISIL and will mature in
December 2024 and November 2025. 
    In October, the company had raised 5 billion rupees selling
zero-coupon bonds maturing in five years at a yield of 8.00%.
 
 ($1 = 81.5200 Indian rupees)
 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))