The papers have a value date of April 6 and will mature on
July 5.
($1 = 82.4150 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)
MUMBAI, April 3 (Reuters) - Indian Bank aims
to raise funds through the sale of certificates of deposit
maturing in three months, three merchant bankers said on Monday.
The state-run lender will offer a yield of 7.18% on the
issue and has received commitments worth around 20 billion
rupees ($242.67 million), the bankers said.
The notes are rated A1+ by Crisil and the terms of the deal
were set on Friday.
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