BSNL raises Rs 8,500 crore via local bonds

State-run BSNL has raised Rs 8,500 crore through issuance of sovereign guarantee bonds, with a maturity of 10 years. The funds raised will be utilized for debt refinancing and meeting the capex requirements. As per BSNL CMD PK Purwar, the issue saw participations of National Pension Scheme, Rural Postal Life Insurance, State Bank of India, Punjab National Bank among others.