India New Issue-NPCIL sets 7.70% coupon for 15-year bonds - traders

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 20 (Reuters) - Nuclear Power Corp of India Ltd (NPCIL) has set a coupon of 7.70% for bonds maturing in 15 years, three merchant bankers said on Monday. The state-run company had invited coupon and commitment bids from bankers and investors earlier in the day, and has accepted bids worth 25 billion rupees ($302.4 million), they said. The bonds are rated AAA by ICRA and India Ratings, and the issue will be settled later this week. The issue 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 = 82.6780 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe Editing by)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.