India Bank to raise $595mmln from 10-year infrastructure bonds: IFR

Indian Bank is planning to raise up to Rs50bn (US$595m) from 10-year infrastructure bonds, according to market sources.

The state-owned lender is eyeing Rs20bn plus a greenshoe of Rs30bn.

Care and Crisil have assigned a AAA rating to the senior unsecured bonds.

It is seeking bids on the BSE's electronic bidding platform on October 24 from 11am to 12pm India time.

In September, the bank raised Rs50bn from 10-year bonds at 7.24%.

Source: IFR