India New Issue-Udaipur Cement Works to issue over 2-year bonds - traders

Udaipur Cement Works

18/10/2022 07:07

MUMBAI, Oct 18 (Reuters) - India's Udaipur Cement Works
 UDCW.NS  plans to raise 3.50 billion Indian rupees ($42.61
million) through sale of bonds maturing in two years, four
months and 16 days, two merchant bankers said on Tuesday. 
    The company will pay an annual coupon, a spread of 172 basis
points above three-month Mumbai Interbank Offered Rate, the
traders said. 
    The bonds have a put/call option at end of one year and four
months; the company has invited commitment bids on Oct. 27. 
    The notes are rated AA+ by CARE Ratings and the issue will
close for subscription next week.
($1 = 82.1400 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia
Editing by)
 ((Dharamrajlalit.dhutia@tr.com))