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

Network18 Media & Investments

04/05/2023 07:46

MUMBAI, May 4 (Reuters) - India's Network18 Media &
Investments  NEFI.NS  plans to raise funds by selling commercial
papers maturing in three months, two merchant bankers said on
Thursday.
    The company will offer a yield of 7.25% on this issue for
which it has received commitments worth around 2 billion Indian
rupees ($24.47 million), the bankers said.
    The notes are rated A1+ by ICRA and the terms of the deal
were set on Wednesday. 

($1 = 81.7300 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Nivedita
Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))