India New Issue-MTNL accepts bids for 10-year govt-guaranteed bonds - bankers

Mahanagar Telephone Nigam

23/03/2023 07:44

MUMBAI, March 23 (Reuters) - India's Mahanagar Telephone
Nigam Ltd (MTNL)  MTNL.NS  has accepted bids worth 634 million
rupees ($7.7 million) for government-guaranteed bonds maturing
in 10 years, three merchant bankers said on Thursday.
    The state-run telecommunication services company has set a
semi-annual coupon of 7.75% on this bond issue, for which it had
invited bids from bankers and investors earlier in the day.
    The notes are rated AAA (CE) by India Ratings and Care
Ratings, and the issue will be settled on Friday.
    In February, MTNL raised 3.62 billion rupees at a
semi-annual coupon of 7.80% and 16.18 billion rupees at a 7.78%
semi-annual coupon.
    In November, it raised 27.58 billion rupees and 61.10
billion rupees in two offerings at semi-annual coupons of 7.87%
and 8.00%, respectively.

($1 = 82.1650 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Varun H K)
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