India New Issue-RJ Corp to issue three-year bonds, bankers say
MUMBAI, Sept 22 (Reuters) - India's RJ Corp plans to raise 10.1 billion rupees ($105.54 million) through the sale of dual tranches of three-year bonds each, three merchant bankers said on Tuesday.
The company aims to raise 3.75 billion rupees through the first tranche at 8.10%, and 6.35 billion rupees through its second tranche at 8.20%, and this would be sold to mutual funds.
The issuer has invited commitment bids on Wednesday, the bankers added.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on September 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
RJ Corp | 3 years | 8.10 | 3.75 | September 23 | AAA (Crisil) |
RJ Corp | 3 years | 8.20 | 6.35 | September 23 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 95.7000 Indian rupees)