India New Issue-Federal Bank to issue 10-year Tier II bonds - bankers

CARE Ratings

24/03/2023 02:27

MUMBAI, March 24 (Reuters) - India's Federal Bank
 FED.NS  plans to raise at least 5 billion rupees ($60.81
million) selling Basel III complaint Tier II bonds maturing in
10 years, three merchant bankers said on Friday.
    The private bank will has invited coupon and commitment bids
from bankers and investors for Monday, they said.
    The notes are rated AA by CARE Ratings and the issue will be
settled next week. 
    The issue has a greenshoe option to retain an additional
five billion rupees and a call option at the end of five years.

    ($1 = 82.2180 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry
Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))