off-the-wire

India New Issue-HDB Financial accepts bids for multiple tenor bonds -traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 17 (Reuters) - India's HDB Financial Services has accepted bids worth an aggregate of 10.30 billion rupees ($124.77 million) for bonds maturing in three years and one month, and zero-coupon bonds maturing in five years, three merchant bankers said on Friday.


The non-banking financial company has accepted bids worth 6.10 billion rupees for three-year and one-month bonds at 8.3774% coupon, while it accepted bids of 4.20 billion rupees for zero-coupon bonds at 8.31% yield.


It has invited bids for both the bond issues on Friday and the issues will be settled next week. The bonds are rated AAA by CRISIL and CARE Ratings.


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 = 82.5520 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Shailesh Kuber)

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