Earlier this month, the company raised 6.82 billion rupees
selling bonds maturing in three years and one month at an annual
coupon of 8.25%.
($1 = 81.8930 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Shinjini Ganguli)
MUMBAI, April 24 (Reuters) - India's Mahindra and
Mahindra Financial Services plans to raise 42 billion
Indian rupees ($512.86 million) selling two sets of separately
transferable redeemable principal part (STRPP) bonds, three
merchant bankers said on Monday.
The first set of STRPP bonds will mature in two years and
four years, and the second in two years and two months and four
years and two months.
The company aims to raise 21 billion rupees via each option
and has invited bids from bankers and investors on Wednesday,
they said.
The notes are rated AAA by Crisil, and the issue will be
settled later this week.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.