India's MTNL plans to raise up to 10 bln rupees via bonds

MUMBAI, March 25 Tue Mar 25, 2014 7:28am EDT

MUMBAI, March 25 (Reuters) - India's state-run Mahanagar Telephone Nigam Ltd is planning to raise up to 10 billion rupees ($164.46 million) through 10-year bonds at 9.39 percent semi-annual coupon, two sources with direct knowledge of the deal said.

The bonds are rated AAA (SO) by Crisil and Care, and the telecom firm had set the base size for the sale at 5 billion rupees, the sources said. ($1 = 60.8050 Indian Rupees) (Reporting by Archana Narayanan)

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