India New Issue-MTNL to issue 10-yr bonds next week - bankers

Mahanagar Telephone Nigam

01/11/2023 03:28

MUMBAI, Nov 1 (Reuters) - India's Mahanagar Telephone Nigam Ltd  MTNL.NS  (MTNL) plans
to raise around 31.26 billion rupees ($375.44 million) through the sale of government-guaranteed
bonds maturing in 10 years in November, three merchant bankers said on Wednesday.
    The state-run telecommunications firm is likely to invite bids for the issue on Nov. 6, they
said.
    In August, the company 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%.
    In October, Reuters reported that MTNL is likely to raise funds via government-guaranteed
bonds maturing in 10 years in November. 

    
 
 Here is the list of deals reported so far on Nov. 1
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 MTNL              10-yr  To be decided           31.26  Nov. 6       AAA (CE) (India
                                                                      Ratings, Care)
 
*Size includes base plus greenshoe for some issues



($1 = 83.2620 Indian rupees)

 (Reporting by Bhakti Tambe
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))