MUMBAI, April 26 (Reuters) - India's Kerala Financial
Corp plans to raise at least 2.74 billion rupees ($33.5 million)
through separately transferable redeemable principal part
(STRPP) bonds, three bankers said on Wednesday.
The Kerala state-owned non-banking finance company will pay
a coupon of 8.63% on this issue, for which it has invited bids
from investors on Friday.
The bonds are rated AA by Acuite Ratings.
The bonds carry five tenors from 6 years to 10 years, with
equal quarterly redemptions in each series.
In March, the company raised 4.76 billion rupees through
STRPP bonds at a coupon of 8.90%.
($1 = 81.7250 Indian rupees)
(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Sonia Cheema)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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