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India New Issue-Tata Capital Financial Services to issue 10-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 6 (Reuters) - India's Tata Capital Financial Services plans to raise at least 750 million rupees ($9.10 million) through bonds maturing in 10 years, three merchant bankers said on Monday. The company has invited bids from bankers and investors for the issue on Tuesday, they said.


The issue also has a greenshoe option to retain an additional subscription of 3.75 billion rupees.


The bonds are rated AAA by CRISIL and carry a put option at the end of the third year. The issue will close for subscription later this week. In January, the company raised 5 billion rupees selling bonds maturing in three years and three months at an annual coupon of 7.9873%. ($1 = 82.4070 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sohini Goswami)

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