off-the-wire

India New Issue-DCB Bank to issue tier-II bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 20 (Reuters) - India's DCB Bank plans to raise at least 2.5 billion rupees ($30.28 million) through Basel III-compliant tier-II bonds maturing in 10 years, three bankers sais on Monday. The bank has invited bids from bankers and investors on March 27 for this bond issue, they said.


The issue also has a greenshoe option to retain an additional subscription of 500 million rupees.


The bonds are rated AA- by CRISIL and carry a call option at the end of the fifth year. The issue will be settled later next week.
($1 = 82.5510 Indian rupees) (Reporting by Bhakti Tambe; Editing by Shinjini Ganguli)

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