off-the-wire

India New Issue-Kotak Mahindra Investments to issue multiple-tenor bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 21 (Reuters) - India's Kotak Mahindra Investments plans to raise funds selling bonds maturing in three years and in three years and four months, three merchant bankers said on Tuesday.


The company aims to raise at least 1 billion rupees ($12.09 million) through the three-year notes and at least 300 million rupees via the three-year and four-month papers, they said. It has invited bids from bankers and investors for both the notes on Wednesday, and the issues have a greenshoe option to retain an additional 3.20 billion rupees and 1.50 billion rupees respectively.


Both the bond issuances are rated AAA by CRISIL and will close for subscription on Thursday.


In January, the company had raised an aggregate of 1.48 billion rupees selling bonds maturing in April 2026 and the other in May 2026.
($1 = 82.7300 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)

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