India New Issue-MTNL sets coupon on 10-year bonds - traders

Mahanagar Telephone Nigam

30/11/2022 06:52

MUMBAI, Nov 30 (Reuters) - India's Mahanagar Telephone
Nigam  MTNL.NS  has set 7.87% semi-annual coupon on
government-guaranteed bonds maturing in 10 years, four merchant
bankers said on Wednesday.
    The state-run company had invited coupon and commitment bids
from bankers and investors earlier in the day, and has accepted
bids worth 27.58 billion rupees ($338 million), they said.
    The notes are rated AAA (CE) by India Ratings and CARE
Ratings and the issue will close for subscription on Thursday.
    Earlier this month, MTNL raised 61.10 billion rupees through
government-guaranteed bonds maturing in 10 years at a
semi-annual coupon of 8.00%, in what was its first issuance in
over two years.
 
 ($1 = 81.5950 Indian rupees)
 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Savio D'Souza)
 ((Bhakti.tambe@tr.com))