India New Issue-Citicorp Finance accepts bids for bond issue, bankers say
MUMBAI, Nov 7 (Reuters) -Citicorp Finance (India) has accepted bids worth 7.50 billion rupees ($89 million) for bonds maturing in two years, three merchant bankers said on Thursday.
The company will pay a coupon, which is linked to Treasury bill yield, and had invited bids from investors and bankers on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking a comment.
Here is the list of deals reported so far on Nov. 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Citicorp Finance | 2 years and 1 month | T-bill yield linked | 7.50 | Nov. 6 | AAA (Icra) |
Cholamandalam Investment | 10 years | To be decided | 10+1 | Nov. 8 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.2760 Indian rupees)
Reporting by Dharamraj Dhutia
Editing by Sumana Nandy
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