MUMBAI, March 26 (Reuters) - India's IndiGrid Infrastructure Trust IGTR.NS plans to raise 12 billion rupees ($140.09 million) through sale of multiple tenor bonds, two merchant bankers said on Wednesday.
The KKR-backed power sector infrastructure investment trust will raise 700 million rupees through 22-year bonds, 6.30 billion rupees through another 22-year bond issue and 5 billion rupees through three-year and six month bonds, and has invited bids from bankers and investors later in the day, they said.
The 22-year papers will have a put and call option at the end of 10 years.
The company did not immediately reply to a Reuters email for comment.
Here is the list of deals reported so far on March 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
IndiGrid Infra Trust | 3-year and 6 months | To be decided | 5 | March 26 | AAA (Icra, Crisil) |
IndiGrid Infra Trust | 22 years | To be decided | 0.7 | March 26 | AAA (Icra, Crisil) |
IndiGrid Infra Trust | 22 years | To be decided | 6.3 | March 26 | AAA (Icra, Crisil) |
Cholamandalam Investment | 2 years | 8.19 | 11.75 | March 25 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.6620 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
((Dharamraj.dhutia@tr.com))
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