The non-banking financial company will pay an annual coupon of 8.65% for the issue, and had invited bids from bankers and investors earlier in the day, they said. The notes are rated AA+ by CRISIL and the issue will be settled on Wednesday. The four-year bond issue will also have a put option at the end of two years and nine months. In February, the company raised 4.65 billion rupees selling bonds maturing in 30 months, and in three years and one month at an annual coupon of 8.60% and 8.65% on the issues. ($1 = 82.3430 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Sohini Goswami)
MUMBAI, March 14 (Reuters) - India's Muthoot Finance has accepted bids worth 10 billion rupees ($121.44
million) for separately transferable redeemable principal part
(STRPP) bonds maturing in two years and nine months and in four
years, three merchant bankers said on Tuesday.
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