India New Issue-PGC accepts bids for staggered redemption bonds, bankers say
India New Issue-PGC accepts bids for staggered redemption bonds, bankers say MUMBAI, Sept 28 (Reuters) - Power Grid Corporation of India PGRD.NS has accepted bids worth 20 billion rupees ($208.37 million) for the sale of staggered redemption bonds maturing between four years and 10 years, three bankers said on Monday.
The company will pay an annual coupon of 7.74% and had invited commitment bids for the issue earlier in the day, they said.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on September 28:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PGC | 10 years | 7.74 | 20 | September 28 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 95.9825 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Janane Venkatraman)
((Khushi.malhotra@tr.com, Dharamraj.dhutia@tr.com))
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India New Issue-PGC accepts bids for staggered redemption bonds, bankers say