MUMBAI (Reuters) – India’s Bank of Maharashtra plans to raise funds through certificates of deposit maturing in three months, three merchant bankers said on Thursday.
The state-run lender will offer a yield of 7.30% on this issue and has received commitments worth 10 billion rupees ($122.96 million), the bankers said.
The notes are rated A1+ by CRISIL and the terms of the deal were set on Wednesday.
($1 = 81.3300 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
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