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India New Issue-Aditya Birla Housing to issue 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 24 (Reuters) - India's Aditya Birla Housing Finance plans to raise at least 1 billion rupees ($12.2 million) through bonds maturing in five years, two merchant bankers said on Monday.


The company will pay a coupon of 8.10% on this issue, for which it has invited bids from investors and bankers on Tuesday. The issue also has a greenshoe option to retain an additional subscription of up to 2.1 billion rupees.


The bonds are rated AAA by ICRA and CRISIL and the issue will be settled later this week.


In November, the housing finance company raised 2.50 billion rupees through bonds maturing in three years at a coupon of 7.95%.
($1 = 82.0730 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sonia Cheema)

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