India New Issue-JM Financial ARC accepts bids for multiple tenor bonds  - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 6 (Reuters) - India's JM Financial ARC has accepted bids worth 3.50 billion rupees ($42.4 million) for bonds maturing in two years and three months and in two years and six months, two merchant bankers said on Monday. The company will pay an annual coupon of 10.20% on each issue, and had invited bids from bankers and investors earlier in the day, they said. The company accepted bids worth 1.75 billion rupees for each issue, which will mature in May 2025 and August 2025. The notes are rated AA- by ICRA and will close for subscription on Tuesday. Last week, it raised 4 billion rupees via the sale of bonds maturing in three years at a coupon of 10.21%, payable on a quarterly basis.


($1 = 82.6040 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Varun H K)

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