MUMBAI, May 8 (Reuters) - India's Punjab National Bank plans 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 7.23% on the
issue for which it has received 30 billion rupees ($367
million)of commitments so far, the bankers said.
The notes are rated A1+ by Crisil.
($1 = 81.8075 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)
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.