off-the-wire

India New Issue-Shriram Finance to issue multiple tenor bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 13 (Reuters) - India's Shriram Finance plans to raise 1.35 billion rupees ($16.49 million) through two bond issues, one maturing in June 2026 and other reissue of 8.50%, October 2032 bond, three merchant bankers said on Monday.


The non-banking finance company has invited bids from bankers and investors for both the bond issues on Tuesday, they said.


The company will pay 8.75% coupon for bonds maturing in June 2026. The issue has a base size of 1.25 billion rupees and a similar greenshoe option.


The base size of reissue is 100 million rupees and it has a greenshoe option to retain an oversubscription of 250 million rupees.


The bonds are rated AA+ by CRISIL and the issues will be settled later this week.
($1 = 81.8750 Indian rupees) (Reporting by Bhakti Tambe)

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