Bajaj Finance to issue 3-month CP - traders

India's Bajaj Finance BAJFINANCE plans to raise funds by selling commercial papers maturing in three months, three merchant bankers said on Tuesday.

The non-banking financial company will offer a yield of 7.00% on the issue and has received commitments worth around 12 billion rupees ($145.85 million) so far, the bankers said.

The notes are rated A1+ by CRISIL.

($1 = 82.2750 Indian rupees)