MTNL deposits bond interest payout after government guarantee invocation

India’s Mahanagar Telephone Nigam Ltd (MTNL) has made the requisite payment due to be paid to its bondholders later this week, the state-run telecom operator informed the exchanges on Wednesday.

MTNL had to deposit the interest for the semi-annual 7.59%, July 2034 bonds in the third-party escrow account 10 days ahead of the due date, according to the terms of the bond issue, but it failed to do so.