India New Issue-Axis Finance to issue 5-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 21 (Reuters) - India's Axis Finance plans to raise at least 1 billion rupees ($12.09 million) through the sale of bonds maturing in five years, three merchant bankers said on Tuesday. The non-banking finance company will pay an annual coupon of 8.07% on the issue and has invited commitment bids on Wednesday, they said. The bonds are rated AAA by CRISIL and the issue will close for subscription on Thursday. The issue has a greenshoe option to retain an additional 3 billion rupees.


In December, the company had raised 1.25 billion rupees selling perpetual bonds at an annual coupon of 8.15%, and this issue had a call option at the end of 10 years.
($1 = 82.7300 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)

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