India New Issue-MTNL seeks bids for government-guaranteed bonds on Monday - bankers

Mahanagar Telephone Nigam

02/11/2023 10:39

MUMBAI, Nov 2 (Reuters) - India's Mahanagar Telephone Nigam Ltd  MTNL.NS  has invited
bids on Monday for its government-guaranteed bonds maturing in 10 years, three merchant bankers
said on Thursday.
    The company plans to raise at least 10 billion rupees through the bonds. 
    In August, the company had raised 10.55 billion rupees via 10-year government-guaranteed
bonds at a semi-annual coupon of 7.61%. In July, it raised 24.80 billion rupees via
government-guaranteed bonds at a semi-annual coupon of 7.59%.
 
 Here is the list of deals reported so far on Nov. 2: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 MTNL       10 yrs        To be decided  10+21.26        Nov. 6       AAA (CE) (India
                                                                      Ratings)
            18 mnts       7.75           12.50           Nov. 2       AAA (Crisil)
   Titan                                                              
 Co                                                                   
                                                                      
 Titan Co   2 yrs         7.75           12.50           Nov. 2       AAA (Crisil)
 *Size includes base plus greenshoe for some issues
 
 ($1 = 83.2550 Indian rupees)

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