MUMBAI, March 29 (Reuters) - India's Virescent Renewable
Energy Trust plans to raise 500 million Indian rupees ($6.1
million) through the sale of bonds maturing in three years,
three merchant bankers said on Wednesday.
The trust will pay an annual coupon of 8.35% for this issue
and has invited commitment bids from bankers and investors on
April 3, they said.
The bonds are rated "AAA" by CRISIL and India Ratings and
the issue will be settled next week.
In September, the company had raised 1.50 billion rupees via
bonds maturing in three and seven years at 7.95% and 8.18%
coupons respectively.
($1 = 82.2910 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Maju Samuel)
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