Blue Star to issue 2-month CP - traders

India's Blue Star BLUESTARCO 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 6.90% on this issue, and has received commitments worth around 500 million rupees ($6.12 million), they said.

The notes are rated A1+ by CRISIL.

($1 = 81.7490 Indian rupees)