off-the-wire

India New Issue-GMR Hyderabad International to issue 10-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 9 (Reuters) - India's GMR Hyderabad International Airport plans to raise 8.40 billion rupees ($102.5 million) through the sale of bonds maturing in 10 years, three merchant bankers said on Thursday.


The company has invited bids from bankers and investors for the issue on Friday, they said.


The notes are rated AA by India Ratings and ICRA, and the issue will be settled next week.


In December, the company had raised 11.50 billion rupees by selling bonds maturing in 10 years at a coupon of 8.8050%, payable on a quarterly basis.
($1 = 81.9910 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Sonia Cheema)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.