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India New Issue-Tata Capital Financial Services to reissue bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 24 (Reuters) - India's Tata Capital Financial Services plans to raise 1 billion rupees ($12.18 million) each through the reissue of two bonds - 7.95% February 2028 and 8.1165% May 2026 - three merchant bankers said on Monday.


The company has invited bids for both the reissuances from investors and bankers on Tuesday, they said.


The reissuances have a greenshoe option to retain an additional subscription of 4 billion rupees each.


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


In February, the company raised an aggregate of 3.63 billion rupees via multiple tenor bonds.
($1 = 82.0800 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sohini Goswami)

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