IDBI Bank to sell perpetual bonds

MUMBAI: IDBI Bank will start selling Rs 2.5 billion of perpetual bonds on Friday, two bankers said on Wednesday.

The Tier-I bonds carry a coupon rate of 9.15 per cent and the issue is scheduled to close on June 17, they added.

Darashaw Securities, Trust Investment Advisor, Axis Bank, Almondz Global, ICICI Securities Primary Dealership, Kotak Mahindra Bank and Yes Bank are arrangers, one source said.