India New Issue-MTNL to raise up to 12 bln rupees via bonds next week - bankers

Mahanagar Telephone Nigam

18/08/2023 09:07

By Bhakti Tambe
       MUMBAI, Aug 18 (Reuters) - India's Mahanagar Telephone
Nigam Ltd  MTNL.NS  (MTNL) plans to raise up to 12 billion
rupees ($144.40 million) through government-guaranteed bonds and
will likely invite bids next week, three bankers said on Friday.
    MTNL has received the sovereign guarantee to raise 66.1
billion rupees in the current financial year in July. 
    Last month, it raised 24.80 billion rupees via government
guaranteed bonds at a semi-annual coupon of 7.59%. 
    MTNL's bonds are rated AAA (CE) by India Ratings. 
    The company is yet to announce the bond issue on electronic
bidding platform and did not immediately respond to Reuters'
email seeking comment.    
    
($1 = 83.1025 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Janane Venkatraman)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
bhakti.rajendratambe.thomsonreuters.com@reuters.net))