M&M Fin plans to raise at least 2.5 bln rupees via bonds

MUMBAI Thu Jan 10, 2013 4:46am EST

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MUMBAI Jan 10 (Reuters) - India's Mahindra and Mahindra Financial Services is planning to raise at least 2.5 billion rupees ($45.57 million) through 10-year unsecured subordinate debt at 9.80 percent annual coupon, a source with knowledge of the deal said on Thursday.

IDFC is the sole arranger to the deal, said the source. ($1 = 54.8550 Indian rupees) (Reporting by Archana Narayanan; Editing by G.Ram Mohan)