off-the-wire

India New Issue-Elan Imperial to issue over 3-year bond issue - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 21 (Reuters) - India's Elan Imperial plans to raise 850 million rupees ($10.27 million) through bonds maturing in three years and nine months, three bankers said on Tuesday. The company has invited bids from investors and bankers for Monday. Bidding will take place on the Bombay Stock Exchange's electronic bidding platform between 1100 IST and 1400 IST, they said.


The company will pay a coupon of 19.50% on this bond issue.


The bonds are rated BB- by CARE and the issue will be settled next week. ($1 = 82.7950 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sherry Jacob-Phillips)

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