India New Issue-MTNL accepts bids for government-guaranteed bonds - bankers

Mahanagar Telephone Nigam

05/03/2024 09:09

MUMBAI, March 5 (Reuters) - India's Mahanagar Telephone Nigam Ltd  MTNL.NS  (MTNL) has
accepted bids worth 5.56 billion rupees ($67.06 million) for government-guaranteed bonds
maturing in 10 years, three bankers said on Tuesday.
    The state-run company has set a semi-annual coupon of 7.51% on the bond issue. 
    In November, MTNL had raised 25.70 billion rupees via 10-year bonds at a semi-annual coupon
of 7.80%.
 
   Here is the list of deals reported so far on March 5: 
                                                                           
 Issuer          Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                              bln rupees)*    date         
                                                                           
 MTNL            10 years      7.51           5.56            March 5      AAA
                               semi-annual                                 (Careedge,
                                                                           India
                                                                           Ratings)
 NHB             3 years and   To be decided  5+15            March 7      AAA (Crisil)
                 1 month                                                   
                 4 years       To be decided  7+3             March 6      AA (Icra)
 Bahadur Chand                                                             
 Investments                                                               
                                                                           
                 2 years       To be decided  0.5+1.5         March 6      AAA (India
 Axis Finance                                                              Ratings)
                                                                           
 Axis Finance    3 years and   8.35           4+4             March 6      AAA (India
                 2 months                                                  Ratings)
                 5 years       8.60           5               March 5      AA+ (Icra)
 Cholamandalam                                                             
 Investment                                                                
                                                                           
                 10 years      To be decided  10+30           March 6      AAA (Crisil,
 Axis Bank                                                                 Icra) 
                                                                           
 
* Size includes base plus greenshoe for some issues


($1 = 82.9150 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Bhakti.Tambe@thomsonreuters.com))