MUMBAI Nov 1 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)