India's Shriram Finance NSE:SHRIRAMFIN plans to raise up to 20 billion rupees ($209.79 million) through a fresh issue of bonds maturing in about three years and two months, and the reissue of 8% December 2031 bonds, three bankers said on Tuesday.
The reissue has a greenshoe option of 5 billion rupees, and will offer a yield of 7.80%, the traders said. The fresh issue will pay a coupon of 7.8%.
The non-banking financial company has invited commitment bids for the issues on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking comment.
ere is the list of deals reported so far on July 7:
Issuer Tenure Coupon (in %) Issue size (in bln rupees)* Bidding date Rating | Shriram Finance 3 years 1 month and 29 days 7.80 10 July 8 AAA (Care, Icra) | Shriram Finance 8% December 2031 reissue 5 years, 5 months and 17 days 7.80 (yield) 5+5 July 8 AAA (Crisil, India Ratings) | SIDBI 3 years and 4 months To be decided 20+60 July 8 AAA (Care, Crisil) | Tata Capital Jun 2029 reissue 2 years and 11 months 7.78 (yield) 10 July 6 AAA (Crisil, Icra) | Tata Capital 5 years 7.88 27.50 July 6 AAA (Crisil, Icra) |
* Size includes base plus greenshoe for some issues
($1 = 95.3325 Indian rupees)