SIDBI to issue over 3-year bonds – traders

Small Industries Development Bank of India (SIDBI) plans to raise at least 15 billion Indian rupees ($182.05 million) selling bonds maturing in three years and 13 days, three merchant bankers said on Tuesday.

The state-run company has invited coupon and commitment bids from bankers and investors on Wednesday, the merchant bankers said. The notes are rated AAA by CARE Ratings and the issue will close for subscription later this week.

The issue has a greenshoe option to retain an additional 25 billion rupees and will mature on Oct. 27, 2025.

In September, the company had raised 40 billion rupees selling bonds maturing in three years and six months at an annual coupon of 7.23%.