MTNL Fails to Fund Semi-Annual Interest for Bond Series VIIIA Due to Insufficient Funds
Mahanagar Telephone Nigam Limited (MTNL) has confirmed that it could not fund the sixth semi-annual interest payment relating to the 7.59% MTNL Bond Series VIIIA (INE153A08154). The interest payment was due on July 20, 2026, and MTNL was obligated to deposit the funds into an ESCROW Account maintained in Bank of India at least 10 days prior to the due date, as per the Structured Payment Mechanism defined by the Tri-Partite Agreement (TPA).The failure to fund the interest payment was attributed to insufficient funds within MTNL.The bonds issued by MTNL are Sovereign Guaranteed by the Government of India. The company noted that if any default...