Apollo Tyres accepts bids for multiple tenor bonds -traders

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An employee works inside the warehouse at the Apollo Super Zone showroom in Mumbai

MUMBAI (Reuters) - India's Apollo Tyres has accepted bids worth an aggregate of 5 billion rupees ($62.87 million) for bonds maturing in 15 months as well as five years, three merchant bankers said on Monday.

The company will pay an annual coupon of 6.93% for 15-month bonds and 7.53% for five-year bonds and had invited bids from bankers and investors earlier in the day, they said.

The bonds are rated AA+ by CRISIL and will close for subscription later this week.

($1 = 79.5300 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Neha Arora)