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India New Issue-Toyota Financial Services accepts bids for over 3-year bonds

BY Reuters | CORPORATE | 04/15/25 03:25 AM EDT

          MUMBAI, April 15 (Reuters) - India's Toyota Financial Services has accepted bids worth 5
billion rupees ($58.29 million) for bonds maturing in three years and two months, three bankers
said on Tuesday.
    The company will pay an annual coupon of 7.6950% and had invited bids from bankers and
investors earlier in the day, they said.
    Toyota Financial Services did not immediately reply to a Reuters email seeking comment.


  Here is the list of deals reported so far on April 15:

 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date

 Toyota Financial  3 years and   7.6950         5               April 15     AAA (Icra)
 Services          2 months
 LIC Housing Fin    2 years and  To be decided        10+12.50  April 15     AAA (Crisil,
 Oct 2027 reissue      6 months                                              Care)

 *Size includes base plus greenshoe for some issues

 ($1 = 85.7775 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

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Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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