PowerGrid raises $500-m via overseas bond
New Delhi: PowerGrid has said it has mopped up $ 500 mllion (Rs 2,700 crores) from foreign currency market. The public sector company has issued ten years note with coupon rate of 3.875 per cent annually.
This note shall be listed in Singapore Stock Exchange. This is a benchmark bond as it is the first international issuance from an India Corporate in 2013. The order books were in excess of $ 9.5 billion representing an oversubscription of 19 times which is the highest oversubscription seen amongst Indian bond deals, PowerGrid said in a statement.
The funds will be utilized to fund the capital expenditure of the company, it said
The Delhi Police is likely to conduct more raids in connection with the IPL spot-fixing scandal. Teams of the Delhi Police's special cell have been sent to Mumbai, Ahmedabad, Hyderabad, and Kolkata to conduct searches and track the money trail in the IPL spot-fixing case.
Date 17-05-13, Duration 1:21, Views 793