ReutersReuters

Power Grid Corporation of India to issue 10-year bonds, bankers say

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Power Grid Corporation of India POWERGRID plans to raise 50 billion rupees ($571.5 million), which includes a greenshoe option of 40 billion rupees, through sale of bonds maturing in 10 years, three bankers said on Friday.

The company has invited coupon and commitment bids for the issue on Monday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on August 8:

Issuer

PGC

Tenure

10 years

Coupon (in %)

To be decided

Issue size (in bln rupees)*

10+40

Bidding date

August 11

Rating

AAA (Crisil, Care, Icra)

*Size includes base plus greenshoe for some issues

($1 = 87.4880 Indian rupees)

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