Mahanagar Telephone Nigam Limited — Important, 30-10-2024: General Updates

Mahanagar Telephone Nigam Limited (MTNL) announced that it will not be able to fund the escrow account for the second semi-annual interest payment due on its 7.80% Bond Series VIII-C on November 7, 2024, due to insufficient funds. All MTNL bonds are sovereign guaranteed by the Government of India, and any default in payment will trigger the government's obligation to fulfill the payment according to the tripartite agreement in place.