India’s Tata Capital Financial accepts bids on 10-year bonds – traders

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MUMBAI — India’s Tata Capital Financial Services has accepted bids worth 1.88 billion rupees ($23.75 million)on sale of bonds maturing in 10 years, two merchant bankers said on Thursday.

The non-banking finance company will pay an annual coupon of 7.95% on this issue, and had invited commitment bids from bankers and investoirs for the same on Wednesday, they said.

The notes are rated AAA by CRISIL and ICRA and the issue will close for subscription later this week.

Last week, the company had raised 3.25 billion rupees through a reissue of 7.75% July 2025 bonds at a yield of 7.62%. ($1 = 79.1580 Indian rupees) (Reporting by Dharamraj Lalit Dhutia Editing by Vidya Ranganathan)

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