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    Home»BSNL»BSNL raises Rs 8500 Crore via sovereign bonds guaranteed by Government of India
    BSNL

    BSNL raises Rs 8500 Crore via sovereign bonds guaranteed by Government of India

    Tele Kerala (Chief Editor)By Tele Kerala (Chief Editor)September 21, 2020Updated:August 30, 20213 Comments
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    Bharat Sanchar Nigam Limited (BSNL) today issued Government Guaranteed Bonds of 10 years maturity, on private placement basis. The Bond got overwhelming response from the investors.

    BSNL raises Rs 8500 Crore via sovereign bonds guaranteed by Government of India
    BSNL offered Government Guaranteed unsecured, redeemable, listed,taxable, Non-convertible Debentures of face value of Rs 10 lakh each at par, with a base issue size of Rs 1000 crores with option to retain oversubscription upto Rs 7500 Crore, aggregating to total issue size of Rs 8500 Crores, on private placement basis through BSE, Electronic Bidding Platform (EBP).
    The Bonds have been assigned a rating of “CRISIL AAA(CE)/Stable” by ‘CRISIL Limited, “CARE AAA(CE)/Stable” by CARE Ratings Limited and “BWR AAA(CE)/Stable” by Brickwork India Rating Limited. Instruments with this rating are considered to  have the highest degree of safety regarding timely servicing  of financial obligations and have the lowest credit risk.

    BSNL raises Rs 8500 Crore via sovereign bonds guaranteed by Government of India

    The bidding through  BSE EBP was held on Monday, the 21st September 2020 between 10:30 AM and 12:00 Noon. At the close of bidding, bids worth Rs 17,183.10 Crore were received from 229 investors. The issue was subscribed over 2.02 times of the total issue size an is the largest Government Guaranteed Bonds issue in recent times, which received such an overwhelming response. The coupon rate too is also best in comparison to other similar offerings in recent times.

    Sri. P K Purwar, CMD BSNL informed that BSNL Management has decided to retain the full subscription of Rs 8500 Crores at a coupon rate of Rs 6.79%. These bonds are planned to be listed on BSE soon and are to be used for Debt Re-financing and meeting the CAPEX requirement of BSNL. He said that the investors response indicates the high level of trust of all the investors including Banks (HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, ICICI, Punjab National Bank), Mutual Funds, Pension Funds, Rural Postal Life Insurance etc. on the State owned telecom service provider (BSNL).

    The raising of Government Guaranteed Bonds of Rs 8500 Crores ia a part of the Cabinet approval of BSNL Revival package in October 2019, which also included VRS to employees of age more than 50 years, Land asset monetisation, 4G spectrum allocation and MTNL merger with BSNL.

    Read More : BSNL offers 5GB free data to all landline customers with one year validity; Here is how you can get this offer

    Dear readers, please share your views and opinions about this latest news via comments with us.
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    Tele Kerala (Chief Editor)
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    Tele Kerala is the Chief Editor of KeralaTelecom.Info. He is having more than 13 years of experience in Indian telecom field. He is always interested in learning latest trends and developments in telecommunication sector.

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    View 3 Comments

    3 Comments

    1. Aditya RS on September 21, 2020 5:07 pm

      BSNL 4G ഉടനെ വരുമോ?

      Reply
    2. Mathew Kuriakose on September 21, 2020 5:59 pm

      Please bring 4G everywhere

      Reply
    3. Thomas John on September 22, 2020 4:38 am

      Now BSNL should launch 5G

      Reply
    Leave A Reply Cancel Reply

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