India New Issue-Sundaram Finance to issue two-year bonds, bankers say

Sundaram Finance

17/05/2024 05:56

MUMBAI, May 17 (Reuters) - India's Sundaram Finance  SNFN.NS  plans to raise up to 10
billion rupees ($119.77 million), including a greenshoe option of 2.5 billion rupees, through
bonds maturing in two years, three bankers said on Friday.
    The company will pay a coupon of 8.065% on the bond issue and has invited bids from bankers
and investors on Tuesday.

    
 Here is the list of deals reported so far on May 17: 
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Sundaram       2 years       8.065          7.5+2.5         May 21       AAA (Icra)
 Finance                                                                  
                2 years       To be decided  5+10            May 21       AAA (Crisil)
 Bajaj Finance                                                            
                                                                          
 Bajaj Finance  5 years       To be decided  5+10            May 21       AAA (Crisil)
 May 2029                                                                 
 reissue                                                                  
                2 years       9.2            2.5+12.5        May 22       AA+ (Crisil)
 Shriram                                                                  
 Finance                                                                  
                                                                          
 Shriram        5 years       9.2            4+20            May 22       AA+ (Crisil)
 Finance                                                                  
 Shriram        3 years       To be decided  3.5+17.5        May 22       AA+ (Crisil)
 Finance May                                                              
 2027 reissue                                                             
                     5 years           8.65           10+10  May 21       AA+ (Icra,
 Cholamandalam                                                            India Ratings)
 Investment                                                               
                                                                          
 
 * Size includes base plus greenshoe for some issues


($1 = 83.4925 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Sohini Goswami)
 ((Bhakti.Tambe@thomsonreuters.com))