In March, the company raised 45 billion rupees from
transferable redeemable principal part bonds maturing in five
years at 8.25% coupon.
($1 = 82.0290 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Vinay Dwivedi)
MUMBAI, April 18 (Reuters) - India's Mahindra and
Mahindra Financial Services plans to raise at least 2
billion Indian rupees ($24.38 million)through sale of bonds
maturing in three years and one month, three merchant bankers
said on Tuesday.
The non-banking financial company will pay an annual coupon
of 8.25% on this issue, for which it had invited bids from
bankers and investors earlier in the day.
The notes are rated AAA by Crisil and the issue will be
settled later this week.
The issue, which will mature in May 2026, has a greenshoe
option to retain an additional 10 billion rupees.
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