MUMBAI, March 14 (Reuters) - India's Shriram Finance has accepted bids worth an aggregate of 1.35 billion
rupees ($16.40 million) for bonds maturing in June 2026 and
reissue of 8.50% October 2032 bond, three merchant bankers said
on Tuesday.
The non-banking finance company had invited bids from
bankers and investors for both the bond issues earlier in the
day, the merchant bankers said.
The company will pay 8.75% coupon for bonds maturing in June
2026, while it will offer a yield of 8.70% for reissue of
October 2032.
The bonds are rated "AA+" by CRISIL and the issues will be
settled on Wednesday.
($1 = 82.3350 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Shilpi Majumdar)
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