Mahindra and Mahindra Financial Services has accepted bids worth Rs 20 billion for bonds maturing in 10 years, three merchant bankers said on Monday.
The non-banking financial company will pay an annual coupon of 8.00% on this issue, and had invited commitment bids earlier in the day, they said.
The notes are rated AAA by CARE Ratings and will close for subscription later this week.
Earlier this month, the company raised 3 billion rupees through the reissuance of 8.20% July 2032 bonds at the yield of 8.15%.
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