State-owned telecom service provider Bharat Sanchar Nigam Limited (BSNL) today raised Rs 8,500 crore through government-guaranteed bonds which was part of the Cabinet approval of the BSNL revival package in October 2019.
BSNL today issued government-guaranteed bonds of 10 years maturity on a private placement basis which has got an overwhelming response from the investors which are unsecured, redeemable, listed, and taxable. The non-convertible debentures of the face value of Rs 10 lakh each at par, with a base issue size of Rs 1000 crores with the option to retain oversubscription up to Rs 750 crores.
The private placement has happened through BSE, Electronic Bidding Platform (EBP) with an assigned rating of “CRISIL AAA (CE)/Stable” and “CARE AAA/(CE): Stable” and “BWR AAA(CE)/Stable”.
BSNL has decided to retain the entire subscription of Rs 8500 crores at a coupon rate of Rs 6.79% with the bonds set to be listed on BSE soon which will be used to refinance debt and meet the CAPEX requirements of BSNL.
