off-the-wire

India New Issue-JSW Energy to issue 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 13 (Reuters) - India's JSW Energy plans to raise 2.50 billion rupees ($30.50 million) selling bonds maturing in three years, three merchant bankers said on Monday.


The company will pay an annual coupon of 8.45%, and has invited commitment bids from bankers and investors for Tuesday, they said. The notes are rated AA by India Ratings and the issue will close for subscription later in the week.


In September, the company had raised 2.50 billion rupees selling bonds maturing in three years at an annual coupon that is five basis points higher than one-year MCLR rate of State Bank of India.
($1 = 81.9600 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

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