State-run IDBI Bank has raised $500 million through a five-year Reg S (Regulation S bonds) note issue. The five-year bond issue, maturing in January 2019, has an initial pricing guidance of 315 basis points over the US treasury bills.
This is part of the bank’s $3.5 billion medium-term notes programme. The said bond has been assigned ‘BBB-’ rating from Global rating agency Standard & Poor’s.
IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,034 branches and 1,627 ATMs.
