MUMBAI, March 9 (Reuters) - India's TVS Motor plans to raise 1.25 billion Indian rupees ($15.24 million)
through sale of bonds maturing in three years, three merchant
bankers said on Thursday.
The company has invited bids from bankers and investors for
this issue on Monday, they said.
It will pay an annual coupon which would be 140 basis points
above the RBI repo rate, which currently works out to be 7.90%.
The bonds are rated AA+ by CARE Ratings, and the issue will
be settled next week.
($1 = 82.0300 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Janane Venkatraman)
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