India New Issue-Shriram Finance to issue multiple-tenor bonds - bankers

MUMBAI, March 17 (Reuters) - India's Shriram Finance plans to raise 4.5 billion rupees ($54.55 million) through a reissue of 8.50% Ocober 2032 bonds and notes maturing in two years and one month, three merchant bankers said on Friday.

The company has invited bids for both the bond issuances from investors and bankers on Monday, they said.

The reissue of October 2032 bonds have a base size of 500 million rupees and a greenshoe option to retain an oversubscription of up to 250 million rupees.

Separately, the fresh issue of bonds maturing in April 2025 has a base size and a greenshoe option of 4 billion rupees each. The company will pay a coupon of 8.95% on this issue.

Both the bonds are rated AA+ by CRISIL. The issue will be settled late next week.

Earlier this week, the company had raised 1.35 billion rupees through bonds maturing in June 2026 and reissue of 8.50% October 2032 bond.
($1 = 82.5000 Indian rupees) (Reporting by Bhakti Tambe; Editing by Dhanya Ann Thoppil)

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India New Issue-Shriram Finance to issue multiple-tenor bonds - bankers

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