India's MTNL plans to raise up to 19.95 bln rupees via bond in June - termsheet

MUMBAI Mon May 20, 2013 7:37am EDT

MUMBAI May 20 (Reuters) - India's state-owned Mahanagar Telephone Nigam Ltd plans to raise up to 19.95 billion rupees ($364 million) through a bond sale in June, a termsheet obtained by Reuters showed.

The telecom firm is expected to issue 10 and 15 year government guaranteed bonds, which are issued AAA (SO) by Crisil and Care, said the document.

The company has sought budgetary offers on May 23, the document showed.

The base size of the issue is 10 billion rupees. ($1 = 54.8750 rupees) (Reporting by Archana Narayanan; Editing by Anand Basu)