The issue has a greenshoe option to retain an additional five billion rupees and a call option at the end of five years. ($1 = 82.2180 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
MUMBAI, March 24 (Reuters) - India's Federal Bank plans to raise at least 5 billion rupees ($60.81
million) selling Basel III complaint Tier II bonds maturing in
10 years, three merchant bankers said on Friday.
The private bank will has invited coupon and commitment bids
from bankers and investors for Monday, they said.
The notes are rated AA by CARE Ratings and the issue will be
settled next week.
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