($1 = 82.5200 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Varun H K)
MUMBAI, March 20 (Reuters) - India's Mahindra and
Mahindra Financial Services Ltd plans to raise 2.85
billion rupees ($34.5 million) through the sale of bonds
maturing three years, three merchant bankers said on Monday.
The non-banking financial company will pay an annual coupon
of 8.30% for this issue, and has invited bids from bankers and
investors on Tuesday, they said.
The notes are rated AAA by Crisil and the issue will be
settled on Thursday.
ICICI Securities Primary Dealership is the anchor investor
for the issue, bankers added.
In November, the company raised an aggregate of 5.82 billion
rupees by selling bonds maturing in two and a half and three
years at a yield of 8.00% and 8.10%.
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