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)
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