New Issue-India's M&M Financial to raise 1.3 bln rupees

Newswire

BOMBAY, Sept 15 (Reuters) - India's Mahindra & Mahindra Financial Services Ltd. plans to raise 1.3 billion rupees by securitising some vehicle loan receivables, merchant bankers said on Wednesday. The receivables have a door-to-door maturity of 32 months with an average maturity of 13.2 months. The annualised yield is 5.85 percent. The issue will open and close on Thursday.

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