India New Issue-Network18 Media, TV18 Broadcast to issue 3-month CP –traders

Network18 Media & Investments

22/08/2022 03:57

MUMBAI, Aug 22 (Reuters) - India's Network18 Media &
Investments Ltd  NEFI.NS  and TV18 Broadcast Ltd  TVEB.NS  plan
to raise funds selling commercial papers maturing in three
months, three merchant bankers said on Monday.
    Both the companies will offer a yield of 5.98% on their CP
issues, the bankers said.
    While Network18 Media & Investments received commitments
around 1.25 billion rupees ($15.64 million), TV18 Broadcast got
around 500 million rupees, they said.
    The notes of both companies are rated A1+ by ICRA and the
terms of the deals were set on Friday.
    
($1 = 79.9020 Indian rupees)

 (Reporting by Dharamraj Lalit Dhutia; Editing by Neha Arora)
 ((Dharamrajlalit.dhutia@tr.com))