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

Punjab & Sind Bank

26/04/2023 03:38

MUMBAI, April 26 (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 7.22% on the
issue and has received commitments worth around 2.75 billion
rupees ($33.6 million), the bankers said.
    The notes are rated A1+ by Crisil and the terms of the deal
were set on Tuesday.


($1 = 81.9570 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))