India New Issue-Punjab & Sind Bank to issue 3-month CD -traders

Punjab & Sind Bank

07/10/2022 08:37

MUMBAI, Oct 7 (Reuters) - India's Punjab & Sind Bank
 PUNA.NS  plans to raise funds through the sale of certificates
of deposit maturing in three months, three merchant bankers said
on Friday. 
    The state-run lender will offer a yield of 6.60% on the
issue and has received commitments worth around 4 billion rupees
($48.55 million), the bankers said.
    The notes are rated A1+ by CRISIL and will mature on Jan. 2.
($1 = 82.3950 Indian rupees)
 (Reporting by Dharamraj Lalit Dhutia
Editing by)
 ((Dharamrajlalit.dhutia@tr.com))