The notes are rated AAA by Crisil and the issue will be settled later this week. The STRPP bonds have a put option at end of two years, as well as three years. Earlier this month, the company raised 2.85 billion rupees selling bonds maturing in three years at an annual coupon of 8.30%. ($1 = 82.1470 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Shailesh Kuber)
MUMBAI, March 28 (Reuters) - India's Mahindra and Mahindra Financial
Services has accepted bids worth 45 billion rupees ($547.80 million)
through separately transferable redeemable principal part bonds maturing in five
years, three merchant bankers said on Tuesday.
The non-banking financial company will pay an annual coupon of 8.25% on this
issue, for which it had invited bids from bankers and investors earlier in the
day.
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