In December, the company had raised 6.05 billion rupees selling bonds maturing in three years at an annual coupon of 8.30%. ($1 = 82.7220 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
MUMBAI, Feb 21 (Reuters) - India's Cholamandalam
Investment and Finance Co plans to raise at least 5
billion rupees ($60.44 million) through the sale of bonds
maturing in three years and one month, three merchant bankers
said on Tuesday.
The non-banking finance company will pay an annual coupon of
8.50% on the issue and has invited commitment bids from bankers
and investors on Wednesday, they said.
The notes are rated AA+ by CARE Ratings and the issue will
close for subscription on Thursday.
The issue has a greenshoe option to retain an additional 5
billion rupees and will mature in March 2026.
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