MUMBAI, Feb 16 (Reuters) - Power Grid Corp of India has set 7.40% coupon for staggered redemption bonds
maturing in 10 years, three merchant bankers said on Tuesday.
The state-run company had invited bids from investors and
bankers earlier in the day, and has accepted bids worth 21.20
billion rupees ($256.49 million), they said.
The bonds are rated AAA by CRISIL and ICRA. The issue will
close for subscription on Friday.
This is the first bond issue by the company in the current
financial year.
($1 = 82.6550 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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