India's MTNL plans to raise up to 30 bln rupees via bonds
MUMBAI, March 1
MUMBAI, March 1 (Reuters) - India's Mahanagar Telephone Nigam Ltd has invited bids on March 6 to raise up to 30 billion rupees ($556.82 million) through private placement of 10-year bonds, three sources with knowledge of the deal said.
The bonds are guaranteed by the government and the base size of the issue is 10 billion rupees, said the sources.
The issue is expected to hit the market in March, they said. ($1 = 53.8775 rupees) (Reporting by Archana Narayanan; Editing by Anand Basu)
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