The five-year bonds have a put and call option at the end of the second year. The notes are rated AAA by CRISIL and ICRA and the issue will be settled on Wednesday. The company, however, has withdrawn its issue of floating rate bonds maturing in three years as bids received were higher than what it was willing to pay, the banker said. In April, the company raised an aggregate of 44.32 billion rupees via bonds maturing in three years and three months, and in 10 years and three months at 7.55% and 7.62%, respectively. ($1 = 81.7360 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sonia Cheema)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, May 8 (Reuters) - India's Power Finance Corp has accepted bids worth 15.5 billion rupees ($189.6
million) for bonds maturing in five years, three merchant
bankers said on Monday.
The state-run company will pay a coupon of 7.44% on this
issue, for which it had invited bids from bankers and investors
earlier in the day.
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