March 25, 2014 / 11:43 AM / 3 years ago

MTNL plans to raise up to 10 billion rupees via bonds

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.Rupak De Chowdhuri/Files

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.

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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