Steel Authority of India to Raise 2.5 Bln Rupees via Bond-Sources-Shanghai Metals Market

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Steel Authority of India to Raise 2.5 Bln Rupees via Bond-Sources

Industry News 09:07:56AM Feb 10, 2012 Source:SMM

MUMBAI Feb 9 (Reuters) - Steel Authority of India plans to raise at least 2.5 billion rupees ($50.5 million) through 5-year bonds, two sources with knowledge of the deal said on Thursday.

The issue has a call option at the end of the third year, the sources said.

The funds will be raised through a book building process, and the company has set a ceiling of 9.10 percent for the bids.

($1=49.5 rupees)

 

Steel Authority of India to Raise 2.5 Bln Rupees via Bond-Sources

Industry News 09:07:56AM Feb 10, 2012 Source:SMM

MUMBAI Feb 9 (Reuters) - Steel Authority of India plans to raise at least 2.5 billion rupees ($50.5 million) through 5-year bonds, two sources with knowledge of the deal said on Thursday.

The issue has a call option at the end of the third year, the sources said.

The funds will be raised through a book building process, and the company has set a ceiling of 9.10 percent for the bids.

($1=49.5 rupees)