MTNL plans to raise up to 10 billion rupees via bonds

MUMBAI (Reuters) - State-run Mahanagar Telephone Nigam Ltd is planning to raise up to 10 billion rupees through 10-year bonds at 9.39 percent semi-annual coupon, two sources with direct knowledge of the deal said.

The bonds are rated AAA (SO) by Crisil and Care, and the telecom firm had set the base size for the sale at 5 billion rupees, the sources said.

(Reporting by Archana Narayanan)