MUMBAI, March 21 (Reuters) - India's Mahindra and
Mahindra Financial Services has accepted bids worth
2.85 billion Indian rupees ($34.50 million)for bonds maturing in
three years, three merchant bankers said on Tuesday.
The non-banking financial company will pay an annual coupon
of 8.30% on this issue, for which it had invited bids from
bankers and investors earlier in the day.
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, the 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% and 8.10%.
($1 = 82.6170 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Shinjini Ganguli)
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