Sundaram Home Finance to issue 5-year bonds - traders

India's Sundaram Home Finance plans to raise 2 billion rupees ($24.42 million) by selling bonds maturing in five years, three merchant bankers said on Tuesday.

The housing finance company has invited bids from bankers and investors on Wednesday, they said.

The bonds are rated AAA by ICRA and the issue will close for subscription on Thursday.

In November, the non-banking finance company raised 2 billion rupees through bonds maturing in two years at an annual coupon of 8.03%.

($1 = 81.8900 Indian rupees)