India New Issue-Karnataka Bank to issue 3-month CD -traders

Karnataka Bank

13/12/2022 07:06

MUMBAI, Dec 13 (Reuters) - India's Karnataka Bank
 KBNK.NS  plans to raise funds through sale of certificates of
deposit maturing in three months, three merchant bankers said on
Tuesday. 
    The private lender will offer a yield of 7.40% on the issue
and has received commitments worth around 5 billion rupees
($60.47 million) so far, the bankers said.
    The notes are rated A1+ by ICRA.
($1 = 82.6870 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))