off-the-wire

India New Issue-Hero Housing Finance to issue 10-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 13 (Reuters) - India's Hero Housing Finance plans to raise at least 150 million rupees ($1.82 million) through the sale of bonds maturing in 10 years, three merchant bankers said on Monday.


The non-banking financial company will pay an annual coupon of 8.50% for this issue and has invited commitment bids from bankers and investors on Tuesday, they said. The bonds are rated AA+ by CRISIL and ICRA, and the issue will close for subscription on Wednesday.


The issue has a greenshoe option to retain an additional 750 million rupees.
($1 = 82.6050 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Eileen Soreng)

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