India's Mahindra to issue foreign currency bonds


NEW DELHI, March 29 (Reuters) - Mahindra and Mahindra Ltd, India's biggest tractor and utility vehicle maker, said on Monday its board had approved a plan to raise $100 million in long term funds through an issue of foreign currency convertible bonds. The money will be used to fund growth and acquisitions in its automobiles, tractors and the emerging auto-parts businesses, Bharat Doshi, Mahindra's executive director for finance, said in a statement. It said it could retain up to 15 ...

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