Mumbai, NFAPost: Jio Finance will enter the domestic capital market next week to raise up to Rs 1,000 crore by selling bonds that will mature in almost three years, said sources aware of the non-bank finance company’s plan.
The bond issue by the wholly-owned subsidiary of Jio Financial Services has a base size of Rs 500 crore and a green-shoe option of Rs 500 crore. Bidding will take place on May 14, sources said, adding that the company is anticipating a coupon rate of 7.19 per cent. The bonds will mature in two years and 10 months.
ICICI Securities Primary Dealership is the sole arranger for the issue, sources said. Jio Finance is rated “AAA” by domestic rating agency CRISIL.
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