off-the-wire

India New Issue-Aye Finance to issue over 2-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 13 (Reuters) - India's Aye Finance plans to raise 270 million rupees ($3.26 million) through bonds maturing in two years and three months, three merchant bankers said on Monday.


The company will offer a coupon of 11.25% on this bond issue, for which it has invited bids from investors and bankers on Tuesday, they said.


The bonds, rated "A-" by India Ratings, will mature in May 2025. The issue will close for subscription on Wednesday.


In January, the company raised 500 million rupees through bonds maturing in one year and three months at an annual coupon of 10.50%.


($1 = 82.6980 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sherry Jacob-Phillips)

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