Public sector lender, IDBI Bank, is planning to raise $500 million US dollar-denominated loans under medium term notes (MTN) programme, as mentioned in a media report. Further, the deal for raising $500 million via long-term notes, which will be issued by the Dubai International Financial Centre (DIFC), Dubai Branch of IDBI Bank, is expected to be completed on September 18, 2012.
Rating agency, Moody’s Investors Service has assigned a Baa3 rating to IDBI Bank’s proposed issuance of long-term senior unsecured notes under its $1.5 billion Medium Term Note (GMTN) program.
The bank posted a rise of 27.53% in its net profit at Rs 427.34 crore for the quarter ended June 30, 2012, as compared to Rs 335.10 crore for the same quarter in the previous year. Total income of the bank increased by 12% to Rs 6786.81 crore for the quarter under review as compared to Rs 6059.83 crore for the quarter ended June 30, 2011.
