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AAI invites bids to raise Rs 300 crore via bonds

AAI invites bids to raise Rs 300 crore via bonds
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First Published: Wed, Feb 16 2011. 04 08 PM IST
Updated: Wed, Feb 16 2011. 04 08 PM IST
Mumbai: Airports Authority of India (AAI) has invited bids from investors to raise Rs 300 crore through five-year bonds, according to a quotation invitation seen by Reuters.
Investors will have to submit bids on the bond coupon by 3pm, 17 February and the cut-off rate and allotment will be made on 18 February at 4:00pm, according to the document.
AAI’s five-year bond offer has two options. One with a put and call option at the end of the third year and the other with no put/call option.
Investors will have to subscribe to a minimum of Rs 250 million worth of bonds and incrementally in multiples of Rs 250 million.
The pay-in date for the issue will be 21 February.
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First Published: Wed, Feb 16 2011. 04 08 PM IST