HDFC Securities to issue near 3-month CPs - traders

India's HDFC Securities plans to raise funds through the sale of commercial papers maturing in nearly three months, three merchant bankers said on Tuesday.

The company will offer a yield of 7.15% on the papers and has received commitments worth around 3 billion Indian rupees ($36.48 million) so far, they said.

The notes are rated A1+ by ICRA and will mature on Feb. 28.

($1 = 82.2300 Indian rupees)