India New Issue-Hero Fincorp to issue 3-year bonds - bankers

MUMBAI, May 10 (Reuters) - India's Hero Fincorp plans to raise at least 500 million rupees ($6.11 million) through bonds maturing in three years, two bankers said on Wednesday.

The company will pay a coupon of 8.35% on this bond issue, for which it has invited bids from investors and bankers on Thursday, they said.

The issue also has a greenshoe option to retain an additional subscription of 1.5 billion rupees. The bonds are rated AA+ by ICRA and the issue will be settled on Friday.

In December, the company raised 350 million rupees through bonds maturing in two years at a coupon of 8.25%.

($1 = 81.7800 Indian rupees) (Reporting by Bhakti Tambe)

Reuters

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India New Issue-Hero Fincorp to issue 3-year bonds - bankers

By Reuters

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