BSNL plans to raise Rs 8,500 crore via local bonds

Mumbai | New Delhi: Bharat Sanchar Nigam Ltd. will tap the local bond market for the first time, planning to raise up to Rs 8,500 crore.

The state-owned telecom company’s proposed bonds will be sovereign-guaranteed paper with up to 10-year maturities, said people with direct knowledge of the matter.

BSNL will use the proceeds to repay debt and fund expansion as it aims to regain market share in a sector that’s consolidated and now has only three private operators.