PFC had invited bids for both the issuances earlier in the day, and the issues will be settled on Monday. The bonds are rated AAA by CRISIL, CARE and ICRA. Earlier this month, PFC raised 34.69 billion rupees selling bonds maturing in 15 years at an annual coupon of 7.82%. ($1 = 82.0400 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe Editing by)
MUMBAI, March 10 (Reuters) - India's Power Finance Corp has set a coupon of 7.77% on notes maturing in three
years and four months, and 7.82% for separately transferable
redeemable principal part (STRPP) bonds maturing from seven
years to 10 years, three merchant bankers said on Friday.
The state-run company has accepted bids worth 32.63 billion
rupees ($397.73 million) for bonds maturing in three years and
four months and 25 billion rupees for STRPP bonds, they said.
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