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BSNL to issue 10-year government-guaranteed bonds

India’s Bharat Sanchar Nigam Ltd plans to raise at least 5 billion rupees ($60.54 million) through a sale of 10-year government-guaranteed bonds, three merchant bankers said on Monday.

The state-run telecom company has invited bids from investors and merchant bankers on Wednesday between 1030 and 1200 IST on the BSE’s electronic platform. The issue also has a greenshoe option to retain an additional subscription of 37 billion rupees.

The notes are rated AAA (CE) by CRISIL, and carry an unconditional and irrevocable guarantee from the union government.

BSNL has previously raised 85 billion rupees through 10-year bonds at a semi-annual coupon of 6.79% in September 2020. Reuters

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