($1 = 81.8575 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, April 13 (Reuters) - India's Power Finance Corp
Ltd plans to raise at least 5 billion rupees (about
$61 million) through the sale of bonds maturing in three years
and three months, three merchant bankers said on Thursday.
The state-run company has invited bids from bankers and
investors for the same on Tuesday, they said.
The bonds are rated AAA by CRISIL and the issue will be
settled next week.
The issue has a greenshoe option to retain an additional 20
billion rupees and will mature in July 2026.
In March, PFC raised an aggregate of 25.90 billion rupees
through bonds maturing in three years, five months and 15 days
and in five years and 15 days at a coupon of 7.70% and 7.77%,
respectively.
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