India New Issue-MTNL sets 7.80% semi-annual coupon on government-guaranteed bonds - bankers

Mahanagar Telephone Nigam

06/11/2023 06:58

MUMBAI, Nov 6 (Reuters) - India's Mahanagar Telephone Nigam Ltd  MTNL.NS  (MTNL) has set
a semi-annual coupon of 7.80% on its government-guaranteed bonds maturing in 10 years, three
merchant bankers said on Monday.
    The telecom company has also accepted bids worth 25.70 billion rupees ($308.86 million) for
the issue, for which it invited bids earlier in the day.
    In August, MTNL 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. 6: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 MTNL              10-yr  7.80                    25.70  Nov 6        AAA (CE) (India
                          (semi-annual)                               Ratings)
 
*Size includes base plus greenshoe for some issues



($1 = 83.2100 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Nivedita Bhattacharjee)
 ((Bhakti.Tambe@thomsonreuters.com))