MTNL issues sovereign bonds aggregating to Rs 2,138 crore

Avatar of Basil Kannagi Arasu

By Basil Kannagi Arasu

Less than a minute read

No comments

Share article:

Follow us
MTNL

State-owned telecommunications service provider Mahanagar Telephone Nigam Limited (MTNL) on 21st December 2020 issued sovereign bonds of the face value of Rs 10 lakh each aggregating up to Rs 2,138.6 crore. The company issued 6.85% 21,386 Nos. unsecured, rated, listed, Government of India guaranteed, redeemable, Non-Convertible taxable bonds in the nature of Debentures series.

Centre had earlier given MTNL the nod to raise upto Rs 6,500 crore for a tenure of 10 years through sovereign guarantee bonds as part of its revival package. MTNL has already raised Rs 4,361.4 crore under the package on October 12. The newly issued sovereign bonds are also issued for a period of 10 years that will mature on 20th December 2030.

MTNL had earlier planned to seek the nod of its stakeholders for the approval of the issue of Non-Convertible Debentures on a private placement basis. The matter was item number 7 on the notice of the 34th AGM of MTNL that was to be held on December 31.

MTNL earlier today in an addendum to the notice of the 34th AGM of MTNL withdrew item number 7 pertaining to approval for the issue of Non-Convertible Debentures on a private placement basis.

Share article:

Follow us

Posted in:

NewsTelecom
Avatar of Basil Kannagi Arasu

Basil Kannagi Arasu

News Reporter

1659 articles published
Basil keeps an eye on the latest happenings in the Telecom sector. You can find him streaming the Premier League, which he started watching in 2013, in his free time.

Related articles

Visit our forums

Join the discussions with thousands of active members who share the same interests as you and learn something new…

Leave a Comment