India's IL&FS mandates bookrunners for possible renminbi offering

By Aleesia Forni

Columbus, Ohio, April 13 - IL&FS Transportation Networks Ltd.'s wholly owned subsidiary, ITNL Offshore Pte. Ltd., has mandated Deutsche Bank AG, Royal Bank of Scotland plc and UBS AG to act as joint lead managers for a proposed renminbi-denominated bond offering, according to an announcement filed with the Bombay Stock Exchange.

The Regulation S deal is expected to receive a BBB- rating from Fitch Ratings Ltd.

The issue is subject to market conditions.

IL&FS Transportation is a surface transportation infrastructure company based in Mumbai, India.

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