($1 = 82.6800 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, Feb 7 (Reuters) - India's Mahanagar Telecom
Nigam Ltd (MTNL) plans to raise at least 5 billion
rupees ($60.5 million) through the sale of government-guaranteed
bonds maturing in 10 years, three merchant bankers said on
Tuesday.
The state-run company has invited coupon and commitment bids
from bankers and investors from 10:30 a.m. IST to 11:30 a.m. IST
on Thursday on the Bombay Stock Exchange's electronic bidding
platform, they said.
The issue also has a greenshoe option to retain an
additional 15.42 billion rupees for which MTNL will pay a
semi-annual coupon.
The notes are rated AAA (CE) by India Ratings and CARE
Ratings and the issue will close for subscription on Friday.
This will be the last trache of bond issuance by MTNL in the
current financial year.
It raised 27.58 billion rupees and 61.10 billion rupees in
two offerings last November, at semi-annual coupons of 7.87% and
8.00%, respectively.
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