off-the-wire

India New Issue-Tata Housing Development accepts bids for 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 28 (Reuters) - India's Tata Housing Development has accepted bids worth 8 billion rupees ($97.82 million) for bonds maturing in three years, three merchant bankers said on Friday. The company will pay an annual coupon of 8.25% on this bond issue, for which it had invited bids from bankers and investors earlier in the day.


The bonds are rated AA by CARE Ratings and the issue will be settled next week.


In January, the company had raised six billion rupees through sale of three-year bonds at an annual coupon of 8.48%. ($1 = 81.7870 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia)

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