India New Issue-HDB Financial to issue multiple tenor bonds -traders

Kitco Media
By Reuters
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Updated:
Reuters
MUMBAI, March 16 (Reuters) - India's HDB Financial Services plans to raise funds through the sale of bonds maturing in three years and one month, and zero-coupon bonds maturing in five years, three merchant bankers said on Thursday. The non-banking financial company aims to raise at least 6 billion rupees ($72.4 million) through the over three-year bonds, which will have a greenshoe option to retain an additional 1 billion rupees. HDB Financial aims to raise at least 3.70 billion rupees through the zero-coupon bonds, with a greenshoe option to retain an additional 500 million rupees. It has invited bids for both the bond issues on Friday. The bonds are rated AAA by CRISIL and CARE Ratings and will be settled next week. In February, the company raised 2.44 billion rupees selling bonds maturing in three years and two months at an annual coupon of 8.0736%.


($1 = 82.8800 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

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