Saturday, March 26, 2011

Indian Railway May Sell $200 Million in Bonds Next Week

Singapore--Indian Railway Finance Corp. is likely to sell a $200 million five-year dollar bond next week, a person familiar with the proposed offering said Friday.

The Indian government-owned company has hired Bank of America Merrill Lynch as the sole bookrunner and lead manager for the proposed Reg S senior bond offering, another person familiar with the deal said.

The proposed deal will be launched subject to favorable market conditions, that person said.

The bonds are provisionally rated Baa3 by Moody's Investors Service, BBB- by Standard & Poor's, and BBB- by Fitch Ratings, the person added.


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