MTNL to issue 10-year bonds: Traders

MUMBAI, India’s Mahanagar Telecom Nigam Ltd (MTNL) plans to raise at least 5 billion rupees ($60.5 million) through the sale of government-guaranteed bonds maturing in 10 years, three merchant bankers said on Tuesday.

The state-run company has invited coupon and commitment bids from bankers and investors from 10:30 a.m. IST to 11:30 a.m. IST on Thursday on the Bombay Stock Exchange’s electronic bidding platform, they said.