off-the-wire

India New Issue-MAS Financial Services to issue over 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 6 (Reuters) - India's MAS Financial Services plans to raise at least 500 million rupees ($6.1 million) through bonds maturing in five years and seven months, three merchant bankers said on Monday.


The company will offer a coupon of 10.75% for the bond issue, for which it has invited bids from bankers and investors on Thursday, they said. The issue also has a greenshoe option to retain an oversubscription of up to 500 million rupees.


The bonds are rated A+ by CARE and the issue will be settled later this week.
($1 = 81.7620 Indian rupees) (Reporting by Bhakti Tambe Editing by Sonia Cheema)

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