MUMBAI (Reuters) – India’s Bank of Baroda plans to raise funds through a sale of certificates of deposits maturing in six months, three merchant bankers said on Tuesday.
The state-run lender will offer a yield of 7.30% on the issue, and it has received commitments worth around 8 billion rupees ($96.76 million) so far, they said.
The notes are rated A1+ by CRISIL and will mature on Jun. 9.
($1 = 82.6760 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
