The issue closed for subscription on Friday and is due to settle on Monday, the sources said.Mauritius-based SP Group entity Mercury Finance was a key investor in the rupee tranche after raising $650 million through three-year dollar bonds at a 14.50% yield, Reuters reported on Thursday.
The Mauritius based SPV (special purpose vehicle) invested the entire proceeds from the dollar bonds into the rupee issue, which saw subscriptions from large private credit funds, as well, one of the sources mentioned above said.Reuters could not identify the private credit funds that invested.The sources declined to be named as they were not authorised to speak to the media.
