MUMBAI (Reuters) – India’s Canara Bank plans to raise funds through the sale of certificates of deposit maturing in three months, three merchant bankers said on Monday.
The state-run lender will offer a yield of 6.92% on the issue, for which it has received commitments worth 10 billion rupees ($121.03 million) so far, the bankers said.
The notes are rated A1+ by CRISIL.
($1 = 82.6250 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
