MUMBAI, May 3 (Reuters) - India's IIFL Finance plans to raise at least 350 million rupees ($4.3 million)
through the sale of bonds maturing in 10 years, three merchant
bankers said on Wednesday.
The company will pay a coupon of 9.20% on this issue for
which it has invited bids from bankers and investors on
Thursday, the bankers said.
The notes are rated AA by CRISIL and the issue will be
settled next week.
The issue has a greenshoe option to retain an additional
1.40 billion rupees.
In April, the company raised 1.25 billion rupees selling
bonds maturing in more than one year at 8.50% coupon.
($1 = 81.7570 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
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