The private insurer has invited coupon and commitment bids from bankers and investors on Thursday,.
MUMBAI:
India’s HDFC Ergo General Insurance plans to raise Rs 3 billion ($36.18 million) selling subordinated bonds maturing in 10 years, two merchant bankers said on Wednesday.
The private insurer has invited coupon and commitment bids from bankers and investors on Thursday, they said.
The notes are rated AAA by CRISIL and ICRA, and the issue will close for subscription on Friday.
The issue has a call option at the end of five years.
In September, the company had raised Rs 800 million selling subordinated bonds maturing in 10 years at an annual coupon of 7.72%.