off-the-wire

India New Issue-Kotak Mahindra Investments accepts bids for multiple tenor bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 17 (Reuters) - India's Kotak Mahindra Investments has accepted bids worth an aggregate of 7 billion rupees ($85.33 million) for multiple tenor bonds, three merchant bankers said on Monday. It has accepted bids worth 4 billion rupees for two-year and three-month bonds at 8.10% yield, and 2 billion rupees for three-year and two-month bonds at 8.1164% yield.


It has also accepted bids worth 1 billion rupees for reissue of 8.1379% June 2026 bonds at 8.11% yield and had invited bids for all issuance from bankers and investors earlier in the day. The bonds are rated AAA by Crisil and will be settled on Tuesday.


In March, the company raised 6 billion rupees through the reissuance of 7.9915% April 2026 bonds, 8.1379% June 2026 bonds and zero-coupon bonds maturing in three years and seven months. ($1 = 82.0310 Indian rupees) (Reporting by Dharamraj Dhutia )

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