Mahindra Lifespaces to raise 5 bln rupees via triple tranche bond - source

Source : REUTERS
Last Updated: Fri, Mar 22, 2013 13:02 hrs

MUMBAI, March 22 (Reuters) - Mahindra Lifespaces plans to raise 5 billion rupees ($92.09 million) through a triple tranche bond at 10.78 percent, a source with direct knowledge of the deal said.

The firm will raise 1.25 billion rupees through three-year zero coupon bonds, said the source.

The real estate firm will raise 1.75 billion rupees through four-year low coupon bonds and 2 billion rupees via five-year low coupon bonds with redemption at premium, the source said.

The pay in for the deal is scheduled for April 2, said the source. ($1 = 54.2950 Indian rupees) (Reporting by Archana Narayanan; Editing by Subhranshu Sahu)

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