MUMBAI, May 16 (Reuters) - India's Housing Development
Finance Corp plans to raise funds through the sale of
commercial papers maturing in one year, three merchant bankers
said on Tuesday.
The non-banking financial company will offer a yield of
7.75% on the issue, and has received commitments worth 32
billion rupees ($391.29 million), they said.
The notes are rated A1+ by Crisil and the terms of the deal
were set on Monday.
($1 = 81.7800 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry
Jacob-Phillips)
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