Poonawalla Fincorp to issue over 2-year bonds, bankers say
India's Poonawalla Fincorp plans to raise 15 billion rupees ($174.88 million) including a greenshoe option of 7.50 billion rupees, through sale of bonds maturing in two years and two months, three merchant bankers said on Friday.
The company has invited bids from investors and bankers on Monday, the bankers said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on July 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Poonawalla Fincorp | 2 years and 2 months | To be decided | 7.5+7.5 | July 14 | AAA (Crisil) |
L&T Finance | 2 years | 7.12 | 5+5 | July 14 | AAA (India Ratings, Crisil) |
Tata Capital | 2 years and 2 months | To be decided | 10+5 | July 14 | AAA (Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.7710 Indian rupees)
