($1 = 82.6700 Indian rupees) (Reporting by Bhakti Tambe; Editing by Savio D'Souza)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, March 21 (Reuters) - India's Mahanagar Telephone
Nigam Ltd (MTNL) plans to raise 634 million rupees
($7.7 million) through the sale of government-guaranteed bonds
maturing in 10 years, four merchant bankers said on Tuesday.
The state-run telecommunication services company has invited
bids from bankers and investors on Thursday, and bidding will
take place on the Bombay Stock Exchange's electronic platform
between 10:30 a.m. IST and 12:00 p.m. IST, they said.
The notes are rated AAA (CE) by India Ratings and CARE
Ratings, and the issue will be settled on Friday.
In February, MTNL raised 3.62 billion rupees at a
semi-annual coupon of 7.80% and 16.18 billion rupees at a 7.78%
semi-annual coupon.
In November, it raised 27.58 billion rupees and 61.10
billion rupees in two offerings at semi-annual coupons of 7.87%
and 8.00%, respectively.
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