Indian state-owned operator Mahanagar Telephone Nigam (MTNL) is reportedly planning to raise as much as Rs10bn (US$165.4m) via a 10-year bond offering.
The notes will carry a 9.39% semi-annual coupon, according to a Reuters report citing two sources…
Indian state-owned operator Mahanagar Telephone Nigam (MTNL) is reportedly planning to raise as much as Rs10bn (US$165.4m) via a 10-year bond offering.
The notes will carry a 9.39% semi-annual coupon, according to a Reuters report citing two sources with direct knowledge of the situation.
The company was not immediately available to comment.
MTNL and BSNL, another state-run telco, have both been struggling in India’s crowded mobile industry.
Earlier this year, the two wireless players received government approval to sell their unused broadband wireless access spectrum back to the state for Rs110bn (US$1.8bn).
Since 2010, several options have been considered to revive the telcos, including tower sales and a merger. In September last year, BSNL and MTNL signed an agreement to share their network assets, which include buildings, towers and international long-distance phone networks.
