MUMBAI, May 8 (Reuters) - India's Gera Developments has
accepted bids worth 2 billion rupees ($24.5 million) for bonds
maturing in one-year, one-month and 15 days to two-year,
10-months and 15 days, three merchant bankers said on Monday.
The company has accepted bids worth 250 million rupees each
for the eight-part issue and will pay a semi-annual coupon of
9.60% on each option, they said.
It had invited commitment bids from bankers and investors
earlier in the day and the issue will be settled on Tuesday.
The bonds are rated AA- by CARE Ratings and will mature from
June 2024 to March 2026.
($1 = 81.8150 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
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.