IDBI Bank to raise Rs 2.5 bn via bonds
IDBI Bank will sell bonds to raise at least 2.5 billion rupees, two merchant bankers associated with the deal said on Monday.
By PTI |
MUMBAI: IDBI Bank will sell bonds to raise at least 2.5 billion rupees, two merchant bankers associated with the deal said on Monday.
The bank is selling 5-year bonds at 11.35 percent and 10-year bonds at 11.30 percent, the merchant bankers said. The issue also carries a greenshoe option to retain excess bids.
The bonds have a "AA+" by ICRA, Crisil and Fitch. The issue which is scheduled to open on Wednesday, will likely close on Dec. 10, the bankers said. ICICI Securities, Standard Chartered Bank, SSKI, Kotak Mahindra Bank, Axis Bank and IDFC are arrangers to the issue.
The bank is selling 5-year bonds at 11.35 percent and 10-year bonds at 11.30 percent, the merchant bankers said. The issue also carries a greenshoe option to retain excess bids.
The bonds have a "AA+" by ICRA, Crisil and Fitch. The issue which is scheduled to open on Wednesday, will likely close on Dec. 10, the bankers said. ICICI Securities, Standard Chartered Bank, SSKI, Kotak Mahindra Bank, Axis Bank and IDFC are arrangers to the issue.
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