MUMBAI, April 11 (Reuters) - India's JM Financial ARC
has accepted bids worth 300 million rupees ($3.66 million) for
bonds maturing in three years, two merchant bankers said on
Tuesday.
The company will pay an annual coupon of 9.00% and had
invited bids from bankers and investors earlier in the day, they
said.
The notes are rated AA- by ICRA and will be settled on
Wednesday.
In February, it raised 3.50 billion rupees through the sale
of bonds maturing in two years and three months and in two years
and six months at an annual coupon of 10.20% on each issue.
($1 = 82.0470 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.