MUMBAI, Feb 24 (Reuters) - India Grid Trust plans to
raise 5 billion rupees ($60.49 million) each through the sale of
bonds maturing in five years and eight years, three merchant
bankers said on Friday.
The company will pay a coupon of 7.85% and 7.92% on these
two issues, respectively, and this would be payable on a
quarterly basis, they said.
It has invited commitment bids from bankers and investors on
Monday, and the issues will close for subscription next week.
The notes of the infrastructure investment trust, or InvIT,
are rated AAA by ICRA and India Ratings. This is the first issue
by the company in this financial year.
($1 = 82.6640 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Janane Venkatraman)
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