NEW ISSUE-SAIL to sell 3 bln rupees of bonds on Dec 2
MUMBAI, Nov 27 (Reuters) - Steel Authority of India (SAIL.BO: Quote, Profile, Research) will accept bids for at least 3 billion rupees of bonds on Dec. 2, two sources with knowledge of the matter said on Friday.
The company plans to sell two tranches of 10-year bonds. One tranche will have a put/call option exercisable at the end of the fifth year, carrying a coupon in the range of 7.75-8.00 percent.
The other tranche will have a bullet redemption and coupon between 8.25-8.50 percent.
Bids will be accepted till 2 p.m. on Dec. 2 and the issue has an unspecified greenshoe option.
(Reporting by Jeanette Rodrigues; Editing by Prem Udayabhanu) ((jeanette.rodrigues@thomsonreuters.com; +91-22-6636-9037; Reuters Messaging: jeanette.rodrigues.thomsonreuters.com@reuters.net))
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