New Delhi: State-run Indian Bank on Monday said it has raised Rs 5,000 crore through a 10-year, long-term infrastructure bond issue at a coupon rate of 7.15 percent.
The lender received two bids for a cumulative amount of Rs 3,100 crore at 7.13 percent coupon, two bids each for a cumulative value of Rs 4,100 crore and Rs 5,050 crore, at a coupon rate of 7.14 percent and 7.15 percent, respectively, market sources said.
Follow The PSUWatch Channel on WhatsApp
Additionally, the bank received one bid for a cumulative amount of Rs 5,075 crore, market participants added.
The bank planned to raise Rs 5,000 crore, including Rs 3,000 crore in the greenshoe option.
The bonds have been rated 'AAA' with 'Stable' outlook by CARE and CRISIL.
Follow PSU Watch on LinkedIN
Pay in and allotment of the bonds will take place on March 24.
Pay in is the date when investors and the issuer exchange bonds and money.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)