MUMBAI, Feb 28 (Reuters) - Union Bank of India plans to raise funds through the sale of certificates of deposit
maturing in three months, three merchant bankers said on
Tuesday.
The state-run lender will offer a yield of 7.60% on the
issue and has received commitments worth around 35 billion
rupees ($423.29 million) so far, the bankers said.
The notes are rated A1+ by CRISIL.
($1 = 82.6850 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry
Jacob-Phillips)
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