Aditya Birla Finance to issue 5-year bonds - traders

India's Aditya Birla Finance plans to raise at least 150 million Indian rupees ($1.84 million) selling bonds maturing in five years, three merchant bankers said on Thursday.

The non-banking financial company will pay an annual coupon of 7.95% on this issue, and has invited commitment bids from bankers and investors on Friday, they said.

The notes are rated AAA by ICRA and India Ratings, and the issue will close for subscription next week.

The issue has a greenshoe option to retain an additional 4.75 billion rupees.

In November, the company had raised an aggregate 3.30 billion rupees, selling bonds maturing in three years and one month and reissuing June 2025 bonds at 7.93% coupon and 7.90% yield.

($1 = 81.3590 Indian rupees)