IDBI Bank to raise around $1 billion (about Rs 5,000 crore) over the next 12 months through bonds
State-owned IDBI Bank today said it would raise around $1 billion (about Rs 5,000 crore) over the next 12 months through bonds from overseas.
"We plan to raise $1 billion overseas in tranches over one year," IDBI Bank Chairman and Managing Director R M Malla told PTI.
The raising of funds would be done under Medium-Term Note (MTN) programme and they will be utilised to expand overseas operations through its Dubai branch.
The bank board had given approval for $1.5 billion MTN programme.
Last year, the bank raised $350 million via bond with a maturity of 5.5 years.
src-BS
State-owned IDBI Bank today said it would raise around $1 billion (about Rs 5,000 crore) over the next 12 months through bonds from overseas.
"We plan to raise $1 billion overseas in tranches over one year," IDBI Bank Chairman and Managing Director R M Malla told PTI.
The raising of funds would be done under Medium-Term Note (MTN) programme and they will be utilised to expand overseas operations through its Dubai branch.
The bank board had given approval for $1.5 billion MTN programme.
Last year, the bank raised $350 million via bond with a maturity of 5.5 years.
src-BS
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