off-the-wire

India New Issue-GIC Housing Finance to issue 21-month bonds – traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 22 (Reuters) - India's GIC Housing Finance plans to raise 3.25 billion Indian rupees ($39.24 million) through sale of bonds maturing in 21 months, two merchant bankers said on Wednesday.


The non-banking finance company has invited coupon and commitment bids from bankers and investors on Thursday, they said.


The notes are rated AA+ by CRISIL and the issue will close for subscription on Friday.


The first bond issue by the company in this financial year will mature in November 2024.
($1 = 82.8330 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Vinay Dwivedi)

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