off-the-wire

India New Issue-BPCL to issue 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 13 (Reuters) - India's Bharat Petroleum Corp plans to raise at least 5 billion rupees ($61.04 million) through bonds maturing in three years, three merchant bankers said on Monday.


The state-backed company has invited bids from investors and bankers on Wednesday. Bidding will take place between 11:00 a.m. IST and 12:00 p.m. IST on the Bombay Stock Exchange's electronic platform, they said.


The issue also has a greenshoe option to retain an oversubscription of up to 10 billion rupees.


The bonds are rated AAA by CRISIL and CARE and the issue will be settled on Friday.
($1 = 81.9130 Indian rupees) (Reporting by Bhakti Tambe; Editing by Dhanya Ann Thoppil)

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