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India New Issue-LIC Housing Finance to issue 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, May 11 (Reuters) - India's LIC Housing Finance plans to raise at least 10 billion rupees ($122.3 million) through bonds maturing in five years, three merchant bankers said on Thursday. The housing finance company will pay a coupon of 7.70% on this bond issue, for which it has invited bids from investors and bankers on Monday, they said.


The issue also has a greenshoe option to retain an additional subscription of up to 40 billion rupees.


The bonds are rated AAA by Crisil and the issue will be settled later next week. Earlier this week, the company raised 11.05 billion rupees via 10-year bonds at a coupon of 7.71%.


($1 = 81.7800 Indian rupees) (Reporting by Bhakti Tambe; Editing by Dhanya Ann Thoppil)

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