off-the-wire

India New Issue-Shriram Finance to reissue June 2026 bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, May 9 (Reuters) - India's Shriram Finance plans to raise at least 350 million rupees ($4.28 million) through the reissue of 8.75% June 2026 bonds, three merchant bankers said on Tuesday. The company has invited bids from investors and bankers for the bond issue later in the day, they said.


The issue also has a greenshoe option to retain an additional subscription of 1.75 billion rupees.


The bonds are rated AA+ by India Ratings and the issue will be settled later this week.


Last week, the company raised 750 million rupees via bonds maturing in three years at a coupon of 8.75%.
($1 = 81.7800 Indian rupees) (Reporting by Bhakti Tambe; editing by Eileen Soreng)

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