L&T Metro Rail (Hyderabad) to issue 2-month CP -traders

India's L&T Metro Rail (Hyderabad) plans to raise funds by selling commercial papers maturing in two months, three merchant bankers said on Tuesday.

The company will offer a yield of 7.73% on the issue and has accepted commitments worth 2.50 billion rupees ($30.57 million) so far, they said.

The notes are rated A1+ by CRISIL and India Ratings. The terms of the deal were set on Monday.

($1 = 81.7750 Indian rupees)