off-the-wire

India New Issue-Sundaram Home Finance to issue 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 26 (Reuters) - India's Sundaram Home Finance plans to raise 2 billion rupees ($24.40 million) selling bonds maturing in three years, three merchant bankers said on Wednesday.


The company will pay an annual coupon of 8% on the bond issue, for which it has invited bids on Thursday, they said.


The bonds are rated AAA by ICRA and the issue will be settled on Friday. In March, the company raised 1.5 billion rupees through bonds maturing in three years at a coupon of 8.31%. ($1 = 81.9540 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Sohini Goswami)

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