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

Mahanagar Telephone Nigam

09/02/2023 07:28

MUMBAI, Feb 9 (Reuters) - India's Mahanagar Telecom
Nigam  MTNL.NS  (MTNL) has set a 7.78% semi-annual coupon on its
government-guaranteed bonds maturing in 10 years, three merchant
bankers said on Thursday.
    The state-run telecommunication services company accepted
bids worth 16.18 billion rupees ($195.9 million) for the bond
issue, for which it had invited coupon and commitment bids from
bankers and investors earlier in the day.
    The notes are rated AAA (CE) by India Ratings and CARE
Ratings, and the issue will close for subscription on Friday.
    MTNL had raised 27.58 billion rupees and 61.10 billion
rupees in two offerings last November, at semi-annual coupons of
7.87% and 8.00%, respectively.
    ($1 = 82.5850 Indian rupees)
 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Varun H K)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
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