MUMBAI, Feb 23 (Reuters) - India's GIC Housing Finance has accepted bids worth 3.25 billion rupees ($39.28
million) for bonds maturing in 21 months, two merchant bankers
said on Thursday.
The non-banking finance company will pay an annual coupon of
8.70% on this issue and had invited coupon and commitment bids
from bankers and investors earlier in the day, they said.
The notes are rated AA+ by CRISIL and the issue will close
for subscription on Friday.
This is the first bond issue by the company in this
financial year, and will mature in November 2024.
($1 = 82.7425 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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