off-the-wire

India New Issue-Kotak Infrastructure Debt Fund accepts bids for over 5 year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 20 (Reuters) - India's Kotak Infrastructure Debt Fund has accepted bids worth 2.05 billion rupees ($24.8 million) for bonds maturing in five years and two months, two merchant bankers said on Monday.


The debt fund will pay an annual coupon of 8.30% on the issue, and had invited commitment bids from bankers and investors earlier in the day, they said. The notes are rated AAA by ICRA and the issue will be settled on Tuesday.


The issue will mature in May 2028. In December, the fund had raised 1.20 billion rupees selling bonds maturing in five years, one month and 19 days at an annual coupon of 7.97%. ($1 = 82.5340 Indian rupees) (Reporting by Dharamraj Dhutia;Editing by Dhanya Ann Thoppil)

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