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

Punjab & Sind Bank

15/02/2023 02:50

MUMBAI, Feb 15 (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 Wednesday.
    The state-run lender will offer a yield of 7.50% on the
issue and has received commitments worth around 5 billion Indian
rupees ($60.31 million), the bankers said.
    The notes are rated A1+ by CRISIL and the terms of the deal
were set on Tuesday.
($1 = 82.9090 Indian rupees)
 (Reporting by Dharamraj Dhutia
Editing by)
 ((Dharamraj.dhutia@tr.com))