Proceeds from the issue will be used for onward lending,
financing, and repayment of interest and principal of existing
borrowings of the company, along with general corporate
purposes, it said in the product note.
($1 = 82.1800 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Janane Venkatraman)
By Bhakti Tambe
MUMBAI, April 19 (Reuters) - India's Cholamandalam
Investment and Finance Company plans to raise at least
5 billion rupees ($60.84 million) through the public issue of
non-convertible debentures, according to a product note.
The non-banking finance company's public issue will open for
subscription on Tuesday and will close on May 9.
The issue also has a greenshoe option to retain an
additional 5 billion rupees.
The company is offering bonds maturing in 22 months, 37
months, and 60 months at an annual coupon of 8.25%, 8.30% and
8.40% each.
A.K. Capital Services is the lead manager for the bond issue
which is rated AA+ by ICRA and India Ratings.
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