MUMBAI, Feb 15 (Reuters) - India's Punjab National Bank plans to raise funds through the sale of certificates
of deposit maturing in one year, three merchant bankers said on
Wednesday.
The state-run lender will offer a yield of 7.78% on the
issue and has received commitments worth around 20 billion
rupees ($241.51 million) so far, the bankers said.
The notes are rated A1+ by CRISIL.
($1 = 82.8140 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.