Food Corp of India plans to raise min 15 bln rupees via bonds

Last Updated: Thu, Feb 14, 2013 08:17 hrs

Food Corporation of India has invited offers for Friday for a sale of at least 15 billion rupees ($278.89 million) via a private placement of bonds, a term sheet obtained by Reuters showed on Thursday.

The firm will issue 10-year and/or 15-year bonds and the government guaranteed bonds are likely to be rated "AAA(SO)" by CRISIL and ICRA, the document showed.

FCI has asked the potential underwriters to bid for the mandate by quoting a spread over the reference government bond yields, it said.

The issue is expected to hit the market in February or March, as per the document.

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