Government to pay-off bond payments of MTNL -

The government has announced that it will pay-off all the future bond payments for Mahanagar Telephone Nigam Limited (MTNL). This step is being taken because the telco is facing a liquidity crisis.

The telco has Rs 426.8 billion ($ 5.1 billion) interest and principal repayments due on local-currency bonds guaranteed by the government by 2034. Of this, Rs 46.2 billion are due in 2024.

Moreover, the government has already honoured MTNL’s bond payment in July 2024 due to lack of sufficient funds to meet an interest payment.

Government to pay-off bond payments of MTNL

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