off-the-wire

India New Issue-Godrej Finance to issue over 3-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Jan 30 (Reuters) - India's Godrej Finance to raise 2 billion rupees ($24.54 million) through the sale of bonds maturing in three years and three months, two merchant bankers said on Monday.


The company will pay an annual coupon of 8.17% on this issue, and has invited bids from bankers and investors for the same on Feb. 7, they said.


The bonds are rated AA by CRISIL. The issue will close for subscription next week and mature in April 2026.
($1 = 81.5060 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe Editing by Shinjini Ganguli)

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