The state-run bank had invited coupon and commitment bids from bankers and investors for the issue earlier in the day and has accepted bids worth 10 billion Indian rupees ($121.71 million), they said. The notes are rated AA- by ICRA and Care Ratings, and will be settled on Friday. The issue has a call option at end of five years. ($1 = 82.1650 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe Editing by)
MUMBAI, March 23 (Reuters) - Indian Overseas Bank has set 9.00% coupon for Basel III complaint Tier II
bonds maturing in 10 years, two merchant bankers said on
Thursday.
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.