India New Issue-India Grid Trust to issue near 18-year bonds - bankers

IndiGrid Infrastructure Trust

13/04/2023 04:44

MUMBAI, April 13 (Reuters) - India Grid Trust  IGTR.NS 
plans to raise 11.4 billion rupees ($139.1 million) through the
sale of bonds maturing in 17 years, 11 months and 12 days, three
bankers said on Thursday.
    The company will pay a coupon of 7.70% and has invited bids
for the bond issue from bankers and investors on Monday, they
said.
    The bonds are rated AAA by ICRA, and will mature in March
2041. The issue will be settled later next week.
    In February, the company raised 5 billion rupees each
through bonds maturing in five years and eight years at a coupon
of 7.85% and 7.92%, respectively.

($1 = 81.9700 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Varun H K)
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