MUMBAI, May 12 (Reuters) - India's SBI Cards and Payment
Services Ltd plans to raise at least 5 billion rupees
($61.14 million) through bonds maturing in five years, three
bankers said on Friday.
The company will pay a coupon of 7.85% on this bond issue,
for which it has invited bids from investors and bankers on
Tuesday, they said.
The issue also has a greenshoe option to retain an
additional subscription of 3.1 billion rupees.
The bonds are rated "AAA" by ICRA and the issue will be
settled on Wednesday.
($1 = 81.7800 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Shilpi Majumdar)
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