India New Issue-Indian Bank to issue 10-year infra bonds, bankers say

Indian Bank

23/10/2024 03:47

MUMBAI, Oct 23 (Reuters) - Indian Bank  INBA.NS  plans to raise 50 billion rupees
($594.64 million) selling infrastructure bonds maturing in 10 years, three merchant bankers said
on Wednesday.
    The state-run lender has invited coupon and commitment bids for the issue on Thursday, they
said.
    The bank did not immediately reply to a Reuters email seeking comment. 
    
 
 Here is the list of deals reported so far on Oct. 23: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      
                                         bln rupees)*    date         Rating
                                                                      
                                                                      
 Indian         10 years  To be decided           20+30  Oct. 24      AAA
 Bank                                                                 (Crisil)
 
*Size includes base plus greenshoe for some issues



($1 = 84.0850 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
 ((Dharamraj.dhutia@tr.com))