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MTNL plans to raise up to 10 billion rupees via bonds
March 25, 2014 / 11:43 AM / in 4 years

MTNL plans to raise up to 10 billion rupees via bonds

MUMBAI (Reuters) - State-run Mahanagar Telephone Nigam Ltd (MTNL.NS) is planning to raise up to 10 billion rupees through 10-year bonds at 9.39 percent semi-annual coupon, two sources with direct knowledge of the deal said.

A labourer carries oil containers as a man speaks on a wireless phone outside the Public Call Office (PCO) at a wholesale grocery market in Kolkata December 8, 2010. REUTERS/Rupak De Chowdhuri/Files

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.

Reporting by Archana Narayanan

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