M&M Fin to raise 1 bln rupees via bonds-source

MUMBAI, Oct 10(Reuters) - India's Mahindra & Mahindra Financial Services Ltd plans to raise 1 billion rupees ($18.93 million) through private placement of 2-year bonds at 9.55 percent, a source with direct knowledge of the deal said on Wednesday.

Deutsche Bank is the arranger to the deal, the source said. ($1 = 52.8250 Indian rupees)

(Reporting by Archana Narayanan; Editing by Sunil Nair)

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Keywords: MAHINDRAFINANCIAL BONDS/