MUMBAI, March 9 (Reuters) - India's Cholamandalam Investment
and Finance Co plans to raise at least 1 billion
rupees ($12.20 million) through sale of bonds maturing in six
years and seven months, three merchant bankers said on Thursday.
The non-banking finance company will pay an annual coupon of
9.00% on the issue, and has invited commitment bids from bankers
and investors for Friday, they said.
The notes are rated AA+ by ICRA and the issue will be
settled on next week.
The issue will have a greenshoe option to retain an
additional 1 billion rupees and will mature in October 2029.
In February, the company raised 4.52 billion rupees selling
bonds maturing in three years and one month at an annual coupon
of 8.50%.
($1 = 81.9840 Indian rupees)
(Reporting by Dharamraj Dhutia)
