India: Prism Cement to raise INR1bn via bonds

India: Prism Cement to raise INR1bn via bonds
Published: 05 July 2011

Prism Cement plans to raise INR1bn (US$22.5m) via two-, three- and four-year bonds, a source with knowledge of the deal told Reuters on Tuesday.

The company is looking to raise INR200m through two-year bonds at 11.2%, INR500m via three-year bonds at 11.6% and INR300m via four-year bonds at 11.8%, the source said.

The issue, which opens on 11 July and closes on 13 July, is rated AA- by ICRA, according to the report.