off-the-wire

India New Issue-Ugro Capital to issue 3-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 3 (Reuters) - India's Ugro Capital plans to raise at least 250 million Indian rupees ($3.04 million) through sale of bonds maturing in three years, two merchant bankers said on Friday. The non-banking finance company will pay a coupon of 10.50% on this issue, and has invited commitment bids on Monday, they said.


The notes of the company are rated A- by CRISIL and the issue will be settled next week.


The issue has a greenshoe option to retain an additional 2.50 billion rupees.
($1 = 82.3700 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

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