Jindal Steel & Power unit to raise 5 bln rupees via bonds-source

MUMBAI, July 25 Wed Jul 25, 2012 2:10am EDT

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MUMBAI, July 25 (Reuters) - Jindal Power Ltd, a unit of Jindal Steel & Power Ltd, plans to raise 5 billion rupees ($89 million) through bonds, a source with direct knowledge of the deal said on Wednesday.

The firm will issue 2-year bonds, with a put/call option at the end of six months, at 10 percent, said the source.

HDFC Bank is one of the arrangers to the deal, the source said. ($1 = 56.1650 Indian rupees) (Reporting by Archana Narayanan; Editing by Gopakumar Warrier)

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