India New Issue-MTNL sets coupon on 10-year govt-guaranteed bonds - bankers

Mahanagar Telephone Nigam

23/02/2023 07:16

MUMBAI, Feb 23 (Reuters) - India's Mahanagar Telephone
Nigam Ltd  MTNL.NS  has set a 7.80% 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 3.62 billion rupees ($43.6 million) for the 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.
    Earlier this month, MTNL raised 16.18 billion rupees at a
7.78% semi-annual coupon.
    That came after MTNL raised 27.58 billion rupees and 61.10
billion rupees in two offerings in November, at semi-annual
coupons of 7.87% and 8.00%, respectively.
 
 ($1 = 82.7640 Indian rupees)
 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Savio D'Souza)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
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