off-the-wire

India New Issue-MAS Financial Services to issue over 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 23 (Reuters) - India's MAS Financial Services plans to raise 500 million rupees ($6.07 million) through bonds maturing in five years and seven months, two bankers said on Thursday.


The company will pay a coupon of 10.75% on this bond issue, for which it has invited bids from investors and bankers on Friday, they said.


The bonds are rated A+ by CARE Ratings and will mature in October 2028. The issue will be settled next week.


Earlier this month, the company raised 500 million rupees through bonds maturing in five years and seven months at a coupon of 10.75%. ($1 = 82.3530 Indian rupees) (Reporting by Bhakti Tambe)

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