India's Power Finance scraps sub-debt sale-sources
MUMBAI Oct 30 (Reuters) - India's Power Finance Corp scrapped a planned sale of at least 1.5 billion rupees ($24.43 million) in subordinated bonds, said three sources with knowledge of the plans.
"There was mismatch in pricing expectations. Also, investor demand was low for the subordinated bond," said one of the sources, who was not authorised to discuss the deal publicly.
Officials at Power Finance Corp handling the sale were not immediately reachable.
($1 = 61.3900 Indian rupees) (Reporting by Archana Narayanan; Editing by Anupama Dwivedi)
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