India New Issue-NPCIL to issue 15-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 16 (Reuters) - Nuclear Power Corp of India (NPCIL) plans to raise at least 15 billion rupees ($181.4 million) through sale of bonds maturing in 15 years, three merchant bankers said on Thursday. The state-run company has invited coupon and commitment bids from bankers and investors between 11:30 a.m. IST and 12:30 P.M. IST on Monday, they said. The bonds are rated AAA by ICRA and India Ratings and the issue will be settled next week. The issue has a greenshoe option to retain an additional 10 billion rupees, and also has a put option at end of five years. In December, the company had raised 23.50 billion rupees through sale of bonds maturing in 10 years at an annual coupon of 7.55%.


($1 = 82.6720 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Varun H K)

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