India’s LIC Housing Finance accepts bids on bond issue – dealers

MUMBAI, Aug 2 (Reuters) – India’s LIC Housing Finance has accepted bids worth 20 billion rupees ($254.30 million) on its bonds maturing in one year, three-month and 13 days, three merchant bankers said on Tuesday.

The non-banking finance company will pay an annual coupon of 6.8975%, and had invited bids from bankers and investors earlier in the day, they said.

The bonds of the company are rated AAA by CRISIL and the issue will close for subscription on Wednesday.

The issue will mature on Nov. 16, 2023.

($1 = 78.6475 Indian rupees)

Reporting by Dharamraj Lalit Dhutia
Editing by Vidya Ranganathan

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