MUMBAI, Aug 12 (Reuters) - India's Cholamandalam Investment
& Finance Company Ltd plans to raise at least 3.40
billion rupees ($42.68 million) through re-issuance of 7.38%
July 2024 bonds, three merchant bankers said on Friday.
The non-banking finance company will offer a yield of 7.65%
on the issue, and has invited commitment bids on Aug.17, they
said. The issue will close for subscription next week.
The issue has a greenshoe option to retain an additional
6.60 billion rupees and will mature on July 31, 2024.
The notes are rated AA+ by ICRA and India Ratings.
($1 = 79.6650 Indian rupees)
(Reporting by Dharamraj Lalit Dhutia
Editing by Neha Arora)