MTNL raises Rs 3,769 cr through bonds this fiscal: Govt

Says it had given its nod to providing financial assistance worth Rs 4,533.97 crore on Jan 9, 2014 against surrender of broadband wireless access spectrum

State-run MTNL has so far raised Rs 3,768.97 crore through bonds in the current financial year, Parliament was informed today.

"MTNL has raised Rs 3,768.97 crore in FY 2014-15 i.e. Rs 2,268.90 crore on November 28, 2014 and Rs 15,00.07 crore on November 19, 2014 by selling bonds," Communications and IT Minister Ravi Shankar Prasad said in a written reply to the Rajya Sabha.

The bonds have 10 years maturity, the minister added.

Prasad said the government on January 9, 2014, had given its nod to providing financial assistance worth Rs 4,533.97 crore to MTNL against surrender of broadband wireless access (BWA) spectrum.

"Financial support to MTNL is being provided in the form of loan through sovereign guarantee of Rs 4,533.97 crore (Rs 765 crore in FY 2013-14 and Rs 3,768.97 crore in FY 2014-15) with the liability of payment of principal and interest thereon resting with the government," Prasad said.