MUMBAI, April 6 (Reuters) - India's Kotak Mahindra Bank
Ltd plans to raise funds through the sale of
certificates of deposit maturing in nearly one year, three
merchant bankers said on Thursday.
The bank will offer a yield of 7.53% on these papers and has
received commitments worth 6 billion rupees ($73.2 million),
they said.
The notes are rated A1+ by Crisil, and the terms of the deal
were set on Wednesday.
The papers will mature on March 15, 2024.
($1 = 81.9630 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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