off-the-wire

India New Issue- MAS Financial Services accepts bids for over 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 9 (Reuters) - India's MAS Financial Services has accepted bids worth 500 million rupees ($6.10 million) for bonds maturing in five years and seven months, three merchant bankers said on Thursday. The company will pay a coupon of 10.75% for the bond issue, for which it had invited bids from bankers and investors earlier in the day.


The bonds are rated A+ by CARE and the issue will be settled later this week. The notes will mature in October 2028.


The issue had a base size of 500 million rupees and a greenshoe option to retain an oversubscription of up to 500 million rupees. ($1 = 82.0070 Indian rupees) (Reporting by Bhakti Tambe)

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