India New Issue-India Grid Trust to issue near 18-year bonds - bankers

Kitco Media
By Reuters
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Reuters
MUMBAI, April 13 (Reuters) - India Grid Trust plans to raise 11.4 billion rupees ($139.1 million) through the sale of bonds maturing in 17 years, 11 months and 12 days, three bankers said on Thursday. The company will pay a coupon of 7.70% and has invited bids for the bond issue from bankers and investors on Monday, they said. The bonds are rated AAA by ICRA, and will mature in March 2041. The issue will be settled later next week. In February, the company raised 5 billion rupees each through bonds maturing in five years and eight years at a coupon of 7.85% and 7.92%, respectively. ($1 = 81.9700 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)

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