Fortis Healthcare plans to raise 15.50 billion rupees via floating rate bonds
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Mumbai: Fortis Healthcare is planning to raise 15.50 billion rupees through the sale of floating-rate bonds maturing in five years, according to three bankers. The bids have been invited from bankers and investors for the issue on Tuesday.
The issuer will sell these bonds at a spread of 192 basis points over the 12-month Mumbai Interbank Forward Offer Rate (MIFOR) and the coupon will be reset annually, Reuters reported. Fortis Healthcare did not immediately reply to a Reuters email seeking comment.
Medical Dialogues team had earlier reported that Fortis Healthcare's board had approved raising up to Rs 1,500 crore through the issuance of non-convertible debentures via private placement.
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