India's Power Finance Corp to issue multi-tenor bonds - traders

·1-min read

MUMBAI (Reuters) - India’s Power Finance Corp plans to raise funds through sale of bonds maturing in three years as well as 10 years, four merchant bankers said on Friday.

The state-run company plans to raise at least five billion rupees ($63.20 million) through each issue, with the three-year bonds having a greenshoe option to retain an additional 20 billion rupees, and the 10-year notes to retaiin additional 10 billion rupees.

The company has invited coupon and commitment bids from bankers and investors for the same on Monday.

The bonds are rated AAA by CRISIL, CARE and ICRA and the issue will close for subscription next week.

($1 = 79.1100 Indian rupees)

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

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