MUMBAI, Feb 15 (Reuters) - India's NHPC plans
to raise at least 3 billion rupees ($36.18 million) through sale
of separately transferable redeemable principal parts (STRPP)
bonds maturing in four years to 15 years, three merchant bankers
said on Wednesday.
The state-run hydroelectric power generation company has
invited coupon and commitment bids for the issue on Thursday,
they said.
The notes are rated AAA by CARE Ratings and India Ratings,
and the issue will close for subscription on Friday.
The issue has a greenshoe option to retain an additional
6.96 billion rupees.
Reuters had reported that the company is set to tap the bond
market for the first time in two years.
In February 2021, NHPC raised 15 billion rupees via STRPP
bonds maturing in six to 15 years at an annual coupon of 6.86%.
($1 = 82.9090 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Varun H K)
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