MTNL sets 7.78 per cent semi-annual coupon on 10-year government-guaranteed bonds

Mahanagar Telephone Nigam Limited has set a 7.78 per cent semi-annual coupon rate on its government-guaranteed bonds maturing in 10 years. The telco accepted bids worth Rs 16.18 billion for the bond issue, for which it had earlier invited coupon and commitment bids from bankers and investors. The notes are rated AAA (CE) by India Ratings and CARE Ratings.