off-the-wire

India New Issue-Axis Finance accepts bids for over 3-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 17 (Reuters) - India's Axis Finance has accepted bids worth 3.85 billion rupees ($46.64 million) for bonds maturing in three years and two months, three merchant bankers said on Friday.


The non-banking finance company will pay an annual coupon of 8.35% on the issue, for which it had invited bids earlier in the day, they said.


The bonds are rated AAA by Crisil and the issue will be settled next week. The issue 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%. ($1 = 82.5540 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Shailesh Kuber Editing by)

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