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Wednesday, November 11, 2009

IDBI Bank to sell upto 5 bln rupees of bonds

IDBI Bank will start selling up to 5 billion rupees of upper Tier-II bonds on Thursday, two sources with knowledge of the matter said on Wednesday.The 15-year bonds carry a coupon rate of 8.90 percent, they added.The issue has a core size of 2.5 billion rupees and a greenshoe option to retain another 2.5 billion rupees. It is scheduled to close on Nov. 20.

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