MUMBAI, April 18 (Reuters) - India Grid Trust has accepted bids worth 11.4 billion rupees ($139 million) for
bonds maturing in 17 years, 11 months and 12 days, three bankers
said on Tuesday.
The company will offer a coupon of 7.70%, which would be
payable on a quarterly basis, they said.
It had received bids for the bonds from bankers and
investors earlier in the day, and the issue will be settled
later this week.
The bonds are rated AAA by ICRA, and will mature in March
2041.
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 = 82.0375 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Varun H K)
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