BSNL to raise Rs 24.06 billion via two 10-year government-guaranteed bonds

According to industry sources, Bharat Sanchar Nigam Limited (BSNL) is planning to issue two 10-year government-guaranteed bonds to raise funds up to Rs 24.06 billion ($290.3 million), which includes a greenshoe option of Rs 18.01 billion.

BSNL has invited coupon and commitment bids from bankers and investors. The issue through which BSNL targets to raise up to Rs 8 billion will have a call-option at end of eight years.

Further, the notes are rated AAA (CE) by CRISIL and carry an unconditional and irrevocable guarantee from the union government.