The state-run bank is likely to invite bids from investors
and bankers by next week, they said. The bank did not
immediately respond to a Reuters request for comment.
The bonds are rated 'AA-' by Acuite Ratings and will also
have a call option after five years from the date of allotment.
UCO Bank is yet to make an official announcement of the
planned bond sale on the electronic bidding platforms.
($1 = 81.7900 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Sherry Jacob-Phillips)
By Bhakti Tambe
MUMBAI, March 6 (Reuters) - India's UCO Bank plans
to raise up to 5 billion rupees ($61.13 million) through
perpetual Basel III-compliant additional tier-I bonds, three
merchant bankers said on Monday.
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.