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

UCO Bank

20/03/2023 08:03

MUMBAI, March 20 (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 Monday.
    The state-run lender will offer a yield of 7.70% on the
issue and has received commitments worth around 11 billion
rupees ($133.12 million) so far, the bankers said.
    The notes are rated A1+ by CRISIL.

($1 = 82.6300 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))