off-the-wire

India New Issue-IIFL Wealth Prime accepts bids for reissue of May 2025 bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 20 (Reuters) - India's IIFL Wealth Prime has accepted bids worth 4.99 billion Indian rupees ($60.45 million) for reissue of zero-coupon May 2025 bonds, two merchant bankers said on Monday.


The company will offer a yield of 7.6150% for this issue and had invited bids from bankers and investors earlier in the day, they said. The bonds carry a call and put option at end of 18 months and will be settled later week. The bonds are rated "AA" by ICRA.


Earlier this month, the company had raised 2.55 billion rupees through zero-coupon bonds maturing in May 2025 at a yield of 7.65%. ($1 = 82.5470 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Maju Samuel)

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.