MUMBAI, March 20 (Reuters) - India's Aditya Birla
Finance has accepted bids worth an aggregate of 2.86 billion
rupees ($34.64 million) for selling bonds maturing in three
years and six months, and a reissue of 8.12% March 2028 bonds,
three merchant bankers said on Monday.
The non-banking finance company will pay an annual coupon of
8.30% on over three-year bonds and has accepted bids worth 2.10
billion rupees, while it will offer a yield of 8.23% on reissue
for which it has accepted bids worth 755 million rupees, they
said.
It had invited bids from bankers for these issues earlier in
the day.
The bonds are rated AAA by ICRA and India Ratings and the
issue will be settled on Tuesday.
Earlier, this month, the company raised 1 billion rupees via
a reissue of 8.12% November 2032 bonds at 8.20% yield.
($1 = 82.5550 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.