Tata Capital Housing Finance to issue 3-month CP -traders

India's Tata Capital Housing Finance plans to raise funds by selling commercial papers maturing in three months, three merchant bankers said on Tuesday.

The company will offer a yield of 7.30% on the issue for which it has received commitments worth around 2 billion rupees ($24.5 million), the bankers added.

The notes are rated A1+ by ICRA.

($1 = 81.7570 Indian rupees)