($1 = 82.7950 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Savio D'Souza)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, Feb 22 (Reuters) - India's Cholamandalam
Investment and Finance Co Ltd has accepted bids worth
4.52 billion rupees ($54.6 million) for bonds maturing in three
years and one month, three merchant bankers said on Wednesday.
The non-banking finance company will pay an annual coupon of
8.50% on the issue, for which it had invited commitment bids
from bankers and investors earlier in the day.
The notes are rated AA+ by CARE Ratings and the issue will
be settled on Thursday.
The issue had a base size of 5 billion rupees and a
greenshoe option to retain an additional 5 billion rupees. The
bonds will mature in March 2026.
In December, the company raised 6.05 billion rupees by
selling three-year bonds at an annual coupon of 8.30%.
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