India New Issue-MTNL sets 7.59% coupon for govt-guaranteed bonds - bankers

Mahanagar Telephone Nigam

19/07/2023 07:52

(NOTE TO SUBSCRIBERS: Reuters is considering discontinuing the following 'India New Issue'
report. If you have feedback or questions, please contact India Financial News Editor Ira Dugal
Ira.Dugal@thomsonreuters.com prior to July 31)
       MUMBAI, July 19 (Reuters) - India's Mahanagar Telephone Nigam  MTNL.NS  has set 7.59%
semi-annual coupon for government-guaranteed bonds and will likely invite bids this week, a
senior company official said.
    The company had invited bids from bankers and investors earlier in the day and has accepted
bids worth 24.80 billion rupees ($301.99 million), they said. 
    MTNL has received the sovereign guarantee to raise 66.1 billion rupees in the current
financial year, it informed the exchanges last week.

                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 MTNL              10-yr           7.59           24.80  July 19      AAA (CE)
                          (semi-annual)                               (India Ratings
 
*Size includes base plus greenshoe for some issuances



($1 = 82.1230 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Nivedita Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))