The transaction is split into two parts. The Rs 650 crore Series 1 comes with a 24-month tenor and a two-year put and call option, and Rs 1,450 crore, which will be Series 2 with a four-year tenor. Series 1 will carry a coupon of 11.75%, while Series 2 is likely to be priced at 15.5%.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets