UltraTech Cement eyes Rs5bn from 5yr bonds


SINGAPORE, May 28 (IFR) - UltraTech Cement, a unit of India’s Aditya Birla Group, plans to raise Rs5bn (US$72m) from five-year bonds at 7.64%, according to a market source.

ICICI Bank is rumoured to be the arranger for the deal.

In August 2018, the cement manufacturer raised Rs3.6bn from three-year bonds at 8.36%.

UltraTech Cement is yet to make an official announcement on the planned bond sale.

(Reporting by Krishna Merchant; Editing by David Holland)

((Krishna.Merchant@thomsonreuters.com; +65 64174544;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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