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

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)

Reuters

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

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