off-the-wire

India New Issue-NABARD to issue 15-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 24 (Reuters) - India's National Bank for Agriculture and Rural Development (NABARD) plans to raise 8.60 billion Indian rupees ($104.37 million) through bonds maturing in 15 years, three merchant bankers said on Friday.


The state-run company has invited bids for the issue on Tuesday. Bidding will take place on the Bombay Stock Exchange's electronic platform between 10:30 a.m. IST and 11:30 a.m. IST.


The bonds are rated AAA by CRISIL and India Ratings and the issue will be settled on Wednesday. Earlier this month, NABARD raised 48.30 billion rupees via the reissue of 7.62% January 2028 bonds. ($1 = 82.4030 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe Editing by Vinay Dwivedi)

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