MUMBAI, Feb 1 (Reuters) - India's JM Financial ARC has
accepted bids worth 4 billion rupees ($48.89 million) for bonds
maturing in three years, two merchant bankers said on Wednesday.
The company will pay a coupon of 10.21% on the issue payable
on a quarterly basis, they said.
It had invited commitment bids from bankers and investors
for the issue earlier in the day, and it will close for
subscription on Thursday
The notes are rated AA- by ICRA.
($1 = 81.8100 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Nivedita
Bhattacharjee)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.