Indian mobile operator Tata Teleservices plans to issue bonds with a value of 5bn rupees (US$83.6m), according to a term sheet seen by Reuters.
The bonds will be issued in three tranches with Yes Bank as sole arranger.
The first tranche of 2.5bn rupees…
Indian mobile operator Tata Teleservices plans to issue bonds with a value of 5bn rupees (US$83.6m), according to a term sheet seen by Reuters.
The bonds will be issued in three tranches with Yes Bank as sole arranger.
The first tranche of 2.5bn rupees (US$41.9m) will mature in three years. The other two tranches have a size of 1.25bn rupees (US$20.9m) each and mature in four and in five years respectively.
The bonds, which will be used for opex and to refinance existing obligations, pay a coupon of 11%.
