MUMBAI, Feb 16 (Reuters) - India's HDFC Ergo General
Insurance has set an 8.15% coupon for subordinated bonds
maturing in 10 years, two merchant bankers said on Thursday.
The private insurer had invited coupon and commitment bids
from bankers and investors earlier in the day and has accepted
bids worth 3 billion rupees ($36.31 million), they said.
The notes are rated AAA by CRISIL and ICRA, and the issue
will close for subscription on Friday.
The issue has a call option at the end of five years.
In September, the company raised 800 million rupees selling
subordinated bonds maturing in 10 years at an annual coupon of
7.72%.
($1 = 82.6200 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
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