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India New Issue-Edel Finance to issue 2-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 24 (Reuters) - India's Edel Finance Co Ltd plans to raise 750 million rupees ($9.12 million) through bonds maturing in two years, two merchant bankers said on Friday.


The company has invited bids from bankers and investors for the issue to be held on Monday. The bonds are rated AA by CRISIL, and the issue will be settled later next week.


Last week, the company raised 1.63 billion through bonds maturing in one year and 12 days at a coupon of 9.50%.




($1 = 82.2625 Indian rupees) (Reporting by Bhakti Tambe)

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