off-the-wire

India New Issue-NABARD to issue 15-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 14 (Reuters) - India's National Bank for Agriculture and Rural Development (NABARD) plans to raise 6.84 billion rupees ($82.60 million) through bonds maturing in 15 years, three merchant bankers said on Tuesday. The state-run company has invited bids for the bond issue from investors and bankers on Thursday.


Bidding will take place on the Bombay Stock Exchange's electronic platform between 10:30 a.m. IST and 11:30 a.m. IST, they said. The bonds are rated AAA by CRISIL. The issue will be closed for subscription on Friday.


Earlier this month, NABARD raised 47.02 billion rupees through bonds maturing in three years and six months at a coupon of 7.58%.
($1 = 82.8100 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sohini Goswami)

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