MUMBAI, April 12 (Reuters) - India's Shriram Finance has accepted bids worth an aggregate of 3.65 billion
rupees ($44.49 million) for bonds maturing in two years and two
months, and reissue of 8.75% June 2026 bonds, three merchant
bankers said on Wednesday.
The non-banking finance company accepted bids worth 2
billion rupees for the shorter tenor bonds, and will pay a
coupon that is 210 basis points above 91-day Treasury bill
yields.
It accepted bids worth 1.65 billion rupees for reissue of
June 2026 bonds and will offer a yield of 9.00%, the bankers
added.
The company had invited bids from bankers and investors for
these issues on Tuesday, and the issues will be settled on
Wednesday.
The bonds are rated AA+ by Crisil.
In March, the company had raised 3.41 billion rupees selling
bonds maturing in 15 months at an annual coupon of 9.00%.
($1 = 82.0400 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
