Power Grid Corp Said to Have Sold 18 Billion Rupees of Bonds

Power Grid Corp. of India Ltd. (PWGR), the nation’s largest electricity transmission company, sold 15-year bonds priced to yield 9.25 percent, according to a person with direct knowledge of the matter.

The company, based in Gurgaon, near New Delhi, raised at least 18 billion rupees ($342 million), said the person, asking not to be identified before a public announcement.

Power Grid Chairman R.N. Nayak did not answer two calls made to his mobile phone.

To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net

To contact the editor responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net

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