MUMBAI, May 9 (Reuters) - India's Kotak Securities plans
to raise funds by selling commercial papers maturing in three
months, three merchant bankers said on Tuesday.
The company will offer a yield of 7.39% on this issue, for
which it has received commitments worth 1 billion rupees ($12.2
million) so far, the bankers said.
The notes are rated A1+ by ICRA.
($1 = 81.7800 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Varun H K)
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