India New Issue-Network18 Media to issue 3-month CP - traders

Network18 Media & Investments

08/12/2022 07:23

MUMBAI, Dec 8 (Reuters) - India's Network18 Media &
Investments  NEFI.NS  plans to raise funds selling commercial
papers maturing in three months, three merchant bankers said on
Thursday.
    The company will offer a yield of 7.05% on this issue, and
has received commitments worth around 3.75 billion rupees 
($45.55 million) so far, the bankers, who did not want to be
named because they are not allowed to speak to media, said.
    The notes are rated A1+ by ICRA.
($1 = 82.3325 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by Nivedita Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))