MUMBAI, April 28 (Reuters) - India's Axis Finance plans
to raise at least 1 billion rupees ($12.24 million) through the
sale of bonds maturing in three years and three months, three
merchant bankers said on Friday.
The non-banking finance company will pay an annual coupon of
7.99% on the issue, for which it has invited bids on Tuesday,
they said.
The bonds are rated AAA by Crisil and the issue will be
settled next week.
The issue has a greenshoe option to retain an additional 3
billion rupees and will mature in August 2026.
In March, the company had raised 3.85 billion rupees selling
bonds maturing in three years and two months at an annual coupon
of 8.35%.
($1 = 81.6950 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Nivedita Bhattacharjee)
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