India New Issue-MTNL sets 7.61% semi-annual coupon on 10-year bonds

Mahanagar Telephone Nigam

23/08/2023 07:59

MUMBAI, Aug 23 (Reuters) - India's Mahanagar Telephone Nigam Ltd  MTNL.NS  (MTNL) has
set a 7.61% semi-annual coupon for government-guaranteed bonds maturing in 10 years, three
bankers said on Wednesday.
    The state-run company had invited bids from bankers and investors earlier in the day, and
has accepted bids worth 10.55 billion rupees ($127.2 million).
    MTNL has received the sovereign guarantee to raise 66.1 billion rupees in the current
financial year. 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 Aug. 23: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 MTNL       10-yr         7.61           10.55           Aug. 23      AAA (CE) (India
                          (semi-annual)                               Ratings, Care)
 
*Size includes base plus greenshoe for some issuances


($1 = 82.9114 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))