India LIC Housing Fin plans to raise min 4 bln rupees via bonds

MUMBAI Thu Nov 1, 2012 5:44am EDT

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MUMBAI Nov 1 (Reuters) - India's LIC Housing Finance plans to raise at least 4 billion rupees ($74.36 million) in a two-tranche bond sale, two sources with direct knowledge of the deal said on Thursday.

The company is planning to raise minimum 2 billion rupees through three-year bonds at 9.38 percent, said a source, adding that Axis Bank is the arranger to the deal.

Separately, it is raising at least 2 billion rupees through two-year bonds at 9.37 percent, another sources said. HDFC Bank is the sole arranger to the deal. ($1 = 53.7950 Indian rupees) (Reporting by Archana Narayanan; Editing by Jijo Jacob)

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