off-the-wire

India New Issue-Bajaj Finance to issue 10-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, May 10 (Reuters) - India's Bajaj Finance plans to raise at least 6 billion rupees ($73.37 million) through bonds maturing in 10 years, three merchant bankers said on Wednesday. The company has invited bids from investors and bankers on Friday for the bond issue, they said.


The issue has a greenshoe option to retain an additional subscription of up to 30 billion rupees. The bonds have a put option on May 15, 2026.


The notes are rated AAA by CRISIL and India Ratings and the issue will be settled next week.


In April, Bajaj Finance raised 10.95 billion rupees via reissue of 7.90% April 2028 bonds at a yield of 7.86%.


($1 = 81.7800 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sohini Goswami)

bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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.