Wednesday, September 27

India’s Shriram Housing Finance plans to issue 4-year bonds – traders

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MUMBAI — India’s Shriram Housing Finance Ltd plans to raise 580 million rupees ($7.32 million) through the sale of bonds maturing in four years, three merchant bankers said on Friday.

The non-banking finance company will pay an annual coupon of 8.00% on the issue and has invited committed bids from bankers and investors on Monday, according to the merchant bankers.

The bonds are rated AA by CARE Ratings and the issue will close for subscription next week.

($1 = 79.2350 Indian rupees) (Reporting by Dharamraj Lalit Dhutia; Editing by Shounak Dasgupta)