off-the-wire

India New Issue-IIFL Samasta Finance to issue 2-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 22 (Reuters) - India's IIFL Samasta Finance plans to raise 400 million rupees ($4.8 million) through bonds maturing in two years, three merchant bankers said on Wednesday. The company will offer a coupon of 10.75% for this issue, for which it has invited bids from investors and bankers on Thursday.


Bidding will take place on the Bombay Stock Exchange's electronic platform between 11:00 a.m. and 12:00 p.m. IST, they said.


The bonds are rated AA- by CRISIL and the issue will be settled on Friday.


Earlier this month, the company raised 250 million rupees through bonds maturing in six years and two months at a coupon of 11.25%. ($1 = 82.8200 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sonia Cheema)

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