Bangalore: Tech Mahindra, an IT services company has announced plans to raise $62.5 million through a bond sale scheduled to open next week, reports The Economic Times.
According to sources close to the development, the company will sell 12-month bonds carrying a coupon rate of 7.25 percent, 18-month bonds at 7.75 percent, 24-month bonds at 8.25 percent and 30-month bonds at 8.85 percent.
The bonds also carry a call option exercisable at the end of each quarter.
