MUMBAI, March 29 (Reuters) - Power Grid Corp of India has set a coupon of 7.56% payable on a quarterly basis
on its bonds maturing in 10 years, three merchant bankers said
on Wednesday.
The state-run company has accepted bids worth 4.75 billion
rupees ($57.70 million) for this issue, for which it had invited
bids from bankers and investors earlier in the day.
The bonds are rated AAA by CRISIL, CARE and ICRA and the
issue will be settled on Friday.
Earlier this month, the company raised 8.67 billion rupees
selling staggered redemption bonds maturing in 10 years at a
coupon of 7.52% payable on a quarterly basis.
($1 = 82.3180 Indian rupees)
(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Janane Venkatraman)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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