India New Issue-Udaipur Cement Works accepts bids for over 2-year bonds - traders

Udaipur Cement Works

27/10/2022 08:48

MUMBAI, Oct 27 (Reuters) - India's Udaipur Cement Works
 UDCW.NS  has accepted bids worth 3.50 billion Indian rupees
($42.53 million) for bonds maturing in two years, four months
and 16 days, two merchant bankers said on Thursday.
    The company will pay an annual coupon, which would be a
spread of 172 basis points above three-month Mumbai Interbank
Offered Rate, the traders said.
    The company had invited commitment bids earlier in the day
and the issue has a put/call option at end of one year and four
months. 
    The notes are rated AA+ by CARE Ratings and the issue will
close for subscription on Friday.
($1 = 82.2990 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia; Editing by Dhanya Ann
Thoppil)
 ((Dharamrajlalit.dhutia@tr.com))