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JM Financial Services to issue multiple tenor CPs - traders

India's JM Financial Services plans to raise funds through the sale of commercial papers maturing in three months as well as in nine months, two merchant bankers said on Friday.

The financial services company will offer a yield of 7.85% on three-month papers and 8.82% on nine-month notes, they said.

The company has received aggregate commitments worth 1 billion rupees ($12.2 million) and the notes are rated A1+ by ICRA and CRISIL.

($1 = 82.2800 Indian rupees)

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