MUMBAI, March 24 (Reuters) - India's Arka Fincap plans
to raise at least 500 million rupees ($6.1 million) through the
sale of bonds maturing in three years and three months, two
merchant bankers said on Friday.
The company will pay a coupon of 9.30% on this issue, for
which it has invited bids from investors and bankers on Monday,
they said.
The issue also has a greenshoe option to retain an
additional subscription of up to 500 million rupees.
The bonds are rated AA- by Crisil and will mature in June
2026.
The bond issue will be settled later next week.
Earlier this week, the company raised 3 billion rupees for
bonds maturing in two years and in three years and six months,
both at a coupon of 9.35%.
($1 = 82.2425 Indian rupees)
(Reporting by Bhakti Tambe)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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