The bonds are rated AA by CARE Ratings and the issue will be settled next week. The issue will mature on May 17, 2024. In April, the company raised 1.50 billion rupees by selling bonds maturing in three years and one month at an annual coupon of 8.75%. ($1 = 81.8200 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
MUMBAI, May 3 (Reuters) - India's Piramal Capital &
Housing Finance has accepted bids worth 5 billion
rupees ($61.1 million) for bonds maturing in over a year, three
merchant bankers said on Wednesday.
The company will pay a coupon that will be 160 basis points
above three-month Mumbai Interbank overnight rate, they said,
adding that the shadow lender had invited commitment bids
earlier in the day.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.