($1 = 82.0250 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K Editing by)
MUMBAI, March 10 (Reuters) - India's GMR Hyderabad
International Airport has accepted bids worth 8.40 billion
rupees ($102.4 million) for bonds maturing in 10 years, three
merchant bankers said on Friday.
The company will pay a coupon of 8.71% on this bond issue
for which it had invited bids from bankers and investors earlier
in the day.
The notes are rated AA by India Ratings and ICRA, and the
issue will be settled next week.
The issue has a staggered redemption and 50% of the amount
would be redeemed equally in four instalments at the end of
sixth year, seventh years, eighth year and ninth year. The
remaining amount would be redeemed at the maturity.
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.
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