MUMBAI, Feb 3 (Reuters) - Indian Bank plans to
raise funds through the sale of certificates of deposit maturing
in one year, three merchant bankers said on Friday.
The state-run lender will offer a yield of 7.72% on the
issue and has received commitments worth around 4 billion rupees
($48.70 million), the bankers said.
The notes are rated A1+ by CRISIL and the terms of the deal
were set on Thursday.
($1 = 82.1420 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Nivedita
Bhattacharjee)
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