off-the-wire

India New Issue-Godrej Industries to issue multiple tenor bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 16 (Reuters) - India's Godrej Industries plans to raise at least 2.50 billion rupees (around $30.2 million) each, through the sale of bonds maturing in two years and eight months, and in three years and two months, three merchant bankers said on Thursday.


The company has invited coupon and commitment bids from bankers and investors for the issues on Friday, the bankers said. The bonds are rated AA by CRISIL and ICRA and the issues will be settled next week.


The issues have a greenshoe option to retain an additional 2.50 billion rupees each and will mature in December 2025 and June 2026. ($1 = 82.8800 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Janane Venkatraman)

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