India’s Bajaj Finance accepts bids on 3-year bonds – traders

India’s Bajaj Finance accepts bids on 3-year bonds – traders

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Reuters

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MUMBAI — India’s Bajaj Finance Ltd has accepted bids worth 5.50 billion rupees ($69.21 million) on its bonds maturing in three years, three merchant bankers said on Monday.

The non-banking finance company will pay an annual coupon of 7.38% and had invited bids from bankers and investors for the same on Friday, they said.

The notes are rated AAA by CRISIL and India Ratings and the issue will close for subscription on Monday. ($1 = 79.4700 Indian rupees) (Reporting by Dharamraj Lalit Dhutia Editing by Vidya Ranganathan)

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