MUMBAI, May 12 (Reuters) - India's Cholamandalam
Investment and Finance Co has accepted bids worth 7
billion rupees ($85.60 million) through bonds maturing in three
years, three merchant bankers said on Friday.
The company will pay a coupon of 8.25% on the bond issue for
which it had invited bids from investors and bankers earlier in
the day.
The bonds are rated AA+ by ICRA and the issue will be
settled on Monday.
In February, Cholamandalam Investment raised 4.52 billion
rupees via bonds maturing in three years and one month at an
annual coupon of 8.50%.
($1 = 81.7800 Indian rupees)
(Reporting by Bhakti Tambe)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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