By Bhakti Tambe
MUMBAI, April 11 (Reuters) - India's Housing and Urban
Development Corp (HUDCO) is likely to raise up to 20
billion rupees ($243.6 million) through the sale of bonds
maturing in three years, four merchant bankers said on Tuesday.
The state-run company is likely to invite coupon and
commitment bids from bankers and investors next week, they said.
HUDCO is yet to announce the bond sale, and did not
immediately respond to a Reuters request for comment.
The company's outstanding notes are rated AAA by Care, ICRA
and India Ratings.
This will be HUDCO's first bond issue in the current
financial year. The company last tapped the market in February
and raised 20 billion rupees through bonds maturing in three
years and three months at a coupon of 7.68%.
($1 = 82.0900 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Varun H K)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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