MUMBAI, March 20 (Reuters) - Indian Overseas Bank plans to raise at least 2 billion rupees ($24.2
million) through the sale of Basel III complaint Tier II bonds
maturing in 10 years, two merchant bankers said on Monday.
The state-run bank has invited coupon and commitment bids
from bankers and investors for the issue on Thursday, they said.
The notes are rated AA- by ICRA and Care Ratings, and will
be settled on Friday.
The issue has a greenshoe option to retain an additional 8
billion rupees and has a call option at end of five years.
($1 = 82.5910 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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