MUMBAI, April 26 (Reuters) - India's Tata Housing
Development plans to raise 8 billion Indian rupees ($97.59
million) selling bonds maturing in three years, two merchant
bankers said on Wednesday.
The company will pay an annual coupon of 8.25%, and had
invited bids from bankers and investors on Thursday, they said.
The bonds are rated AA by CARE Ratings and the issue will be
settled on Friday.
In January, the company had raised six billion rupees
through sale of three-year bonds at an annual coupon of 8.48%.
($1 = 81.9775 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Rashmi Aich)
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