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

UCO Bank

17/03/2023 09:06

MUMBAI, March 17 (Reuters) - India's UCO Bank  UCBK.NS 
plans to raise funds through a sale of certificates of deposit
maturing in three months, three merchant bankers said on Friday.
    The state-run lender will offer a yield of 7.70% on the
issue, and has received commitments worth around 5 billion
Indian rupees ($60.57 million) so far, the bankers said.
    The notes are rated A1+ by CRISIL.


($1 = 82.5450 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))