($1 = 82.7950 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Varun H K)
MUMBAI, March 16 (Reuters) - India's Axis Finance plans to
raise at least 2.50 billion rupees ($30.2 million) through sale
of bonds maturing in three years and two months, three merchant
bankers said on Thursday.
The non-banking finance company will pay an annual coupon of
8.35% on the issue, for which it had invited bids on Friday,
they said.
The bonds are rated AAA by Crisil and the issue will be
settled next week.
The issue has a greenshoe option to retain an additional
2.50 billion rupees and will mature in May 2026.
In February, the company had raised 2.63 billion rupees
selling bonds maturing in five years at an annual coupon of
8.07%.
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