MUMBAI, April 3 (Reuters) - India's Virescent Renewable
Energy Trust has accepted bids worth 500 million rupees ($6.07
million) for 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 had invited commitment bids from bankers and investors
earlier in the day, they said.
The bonds are rated AAA by CRISIL and India Ratings and the
issue will be settled on Wednesday.
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 = 82.3700 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
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