BSNL to raise Rs 15000 cr through sovereign bonds next month

NEW DELHI: State run BSNL plans to issue sovereign bonds for raising Rs 15,000 crore next month, its chairman and MD P. K. Purwar has said.

“We have written to DoT already asking for approval for the Rs 15,000 crore sovereign bonds. DoT is in the process of sending it to finance ministry for approval. We can raise all Rs 15,000 crore in one tranche. We expect to get the approval soon for the bonds to raise the funds”, P K Purwar, CMD of BSNL told IANS.

Government bond or sovereign bond is a bond issued by a national government, generally with a promise to pay periodic interest payments called coupon payments and to repay the face value on maturity.