MUMBAI, April 24 (Reuters) - India's Federal Bank Ltd plans to raise funds through a sale of certificates of
deposit maturing in 11 months, three merchant bankers said on
Monday.
The private lender will offer a yield of 7.48% on the issue,
which has received commitments worth around 10 billion rupees
($121.9 million), the bankers said.
The notes are rated A1+ by Crisil and the terms of the deal
were set on Friday.
It will mature on March 20, 2024.
($1 = 82.0430 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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