($1 = 82.3350 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, March 14 (Reuters) - India's Arka Fincap plans to
raise 3 billion rupees ($36.4 million) by selling separately
transferable redeemable principal part (STRPP) bonds maturing in
two years, and in three years and six months, three merchant
bankers said on Tuesday.
The company will pay an annual coupon of 9.35% on these
issues, and has invited bids from bankers and investors on
Thursday, they said.
The bonds are rated AA- by CRISIL and the issue will be
settled on Friday.
The three-year-and-six-month bonds have a put option at end
of two years.
In January, Arka Fincap raised 2 billion rupees selling
bonds maturing in two years and two months at an annual coupon
of 9.35%.
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