India’s L&T Metro Rail (Hyderabad) plans to raise funds by selling commercial papers maturing in two months, three merchant bankers said on Friday.
The company will offer a yield of 7.75% on the issue and has accepted commitments worth 7 billion rupees ($84.5 million) so far, they said.
The notes are rated A1+ byĀ CRISILĀ andĀ India RatingsĀ AA(CE) by CRISIL and India Ratings. ($1 = 82.8425 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D’Souza)
