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

Punjab & Sind Bank

14/02/2023 02:45

MUMBAI, Feb 14 (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 Tuesday.
    The state-run lender will offer a yield of 7.52% on the
issue and has received commitments worth around 10 billion
Indian rupees  ($121.07 million), the bankers said.
    The notes are rated A1+ by CRISIL and will mature on May 18.
    The terms of the deal were set on Monday.  
($1 = 82.5940 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
 ((Dharamraj.dhutia@tr.com))