off-the-wire

India New Issue-SIDBI may raise about 25 bln rupees via 3-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Bhakti Tambe MUMBAI, Feb 27 (Reuters) -

Small Industries Development Bank of India (SIDBI) is aiming to raise around 25 billion rupees ($301.6 million) by issuing bonds maturing in three years and may invite bids in March, two merchant bankers said on Monday. The state-run financial institution is looking to issue bonds maturing in three years or a little over that, one of the bankers said.


SIDBI did not immediately respond to a Reuters email seeking comment on the sale, which has yet to be officially announced. The bonds are rated AAA by CARE and ICRA.


In January, SIDBI raised 50 billion rupees through bonds maturing in three years and one month at a coupon of 7.59%. ($1 = 82.8880 Indian rupees) (Reporting by Bhakti Tambe)

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