The notes are rated AA+ by ICRA and India Ratings and the issue will be settled next week. The bonds 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 = 82.0330 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Shailesh Kuber)
MUMBAI, March 10 (Reuters) - India's Cholamandalam Investment and Finance has accepted bids worth 2 billion Indian rupees ($24.38 million) for
bonds maturing in six years and seven months, three merchant bankers said on
Friday.
The non-banking finance company will pay an annual coupon of 9.00% on the
issue, for which it had invited commitment bids from bankers and investors
earlier in the day.
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