Under pressure from industry and the government to ramp up production, state-run Coal India Ltd (CIL), has invited bids from bankers and other interested parties for acquiring assets abroad. The company has sought expression of interest (EoI) from investment bankers, owners/owners’ representatives for acquisition of coal assets abroad. In August 2009, CIL made its first acquisition abroad by taking over two blocks in Mozambique, after incorporating a wholly-owned subsidiary, Coal India Africana Limitada. The two blocks A1 and A2 in Motaize, Tete province of Mozambique, are spread over 324 sq km. (Business Standard)
MTNL to raise INR 3,000 crore through bonds: State-run telecom firm MTNL is looking to raise INR 3,000 crore ($557.4 million) through sovereign guarantee bonds. Ministry of Finance, Department of Economic Affairs has conveyed that guarantee space for Rs 3000 crore is available for MTNL to be utilised in the financial year 2012-13. The company would raise 10 year bonds through private placement with bullet repayment on principal and interest at the end of 10 years. (The Economic Times)
IIFCL offers tax-free secured redeemable non convertible bonds: IIFCL is offering tax-free secured redeemable non convertible bonds with an issue size of INR 6331 crore ($1.17 billion). There are three series of bonds on offer, series 1 with tenure of 10 years, series 2 with tenure of 15 years and series 3 with tenure of 20 years. In series 1, a retail investor shall get an interest of 7.36%., while in series 2, he will earn an interest of 7.52% and in series 3, he will be eligible for interest of 7.58%. The issue closes on March 15, 2013. (The Economic Times)
Exim Bank plans to raise INR 4.5 bn via bonds: Exim Bank is looking to raise INR 450 crore ($83.1 million) through three-year bonds with a 1-year 1-day put/call option at 9.05%. Axis Bank and Deutsche Bank are the arrangers to the deal.
Courtesy: VCCEdge 
