off-the-wire

India New Issue-IIFL Samasta Finance to issue over 6-year bonds

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Jan 31 (Reuters) - India's IIFL Samasta Finance plans to raise at least 250 million rupees ($3.06 million) through bonds maturing in April 2029, three merchant bankers said on Tuesday. The company will offer a coupon of 11.25% on the bond issue for which it has invited bids from bankers and investors on Wednesday, they said.


The issue also has a greenshoe option to retain an oversubscription of up to 250 million rupees.


The bonds are rated AA- by CRISIL and the issue will close for subscription later this week.


In December, IIFL Samasta Finance had raised 1 billion rupees through bonds maturing in one year and in two years at an annual coupon of 10.50% and 11.40%, respectively. ($1 = 81.5900 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia)

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