MUMBAI, Feb 22 (Reuters) - India's Tata Steel plans to raise 21.50 billion rupees ($259.50 million) through
bonds maturing in five years, three merchant bankers said on
Wednesday.
The company has invited bids from bankers and investors on
Friday and the bidding will take place on the Bombay Stock
Exchange's electronic platform between 10:30 a.m. IST and 11:30
a.m. IST.
The bonds are rated AA+ by CARE Ratings and the issue will
be settled next week.
Tata Steel last tapped the bond market in September 2020,
when it had raised 15 billion rupees through bonds maturing in
10 years at a coupon of 7.76%.
($1 = 82.8520 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Sohini Goswami)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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