MUMBAI, April 10 (Reuters) - India's Shriram Finance plans to raise funds through the sale of bonds
maturing in two years and two months, and via reissue of 8.75%
June 2026 bonds, three merchant bankers said on Monday.
The non-banking finance company aims to raise at least 2
billion rupees ($24.4 million) via shorter tenor bonds, and at
least 1.50 billion rupees via reissue of notes, they said.
The company has invited bids from bankers and investors for
these issues on Tuesday, and they have a greenshoe option to
retain an additional 3 billion rupees and 3.50 billion rupees
respectively.
The bonds are rated AA+ by Crisil and the issue will be
settled on Wednesday.
In March, the company had raised 3.41 billion rupees selling
bonds maturing in 15 months at an annual coupon of 9.00%.
($1 = 81.8180 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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