India's HPCL to issue October-end CP - Bankers

MUMBAI (Reuters) - India’s Hindustan Petroleum Corporation Ltd, or HPCL, plans to raise funds selling commercial paper maturing at the end of October, three merchant bankers said.

The state-run company will pay a yield of 5.73% on this issue and it has received commitments worth around 10 billion rupees ($127.18 million) so far, the bankers said.

The notes are rated A1+ by CRISIL and will mature on Oct. 28.

($1 = 78.6275 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Vidya Ranganathan)

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