off-the-wire

India New Issue-JSW Energy accepts bids for 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 14 (Reuters) - India's JSW Energy has accepted bids worth 2.50 billion rupees ($30.35 million) for bonds maturing in three years, three merchant bankers said on Tuesday.


The company will pay an annual coupon of 8.45%, and had invited commitment bids from bankers and investors, they said. The notes are rated AA by India Ratings and the issue will be settled on Wednesday.


In September, the company 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 = 82.3700 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

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