-At least 7 banks to run Indian Overseas Bank's USD500m bond issue.
BANKING AND CREDIT NEWS-March 15, 2012--At least 7 banks to run Indian Overseas Bank's USD500m bond issue(C)2012 M2 COMMUNICATIONS http://www.m2.com
15 March 2012 - At least seven banks have been mandated for the bond issue worth USD500m (EUR384m) planned by Indian Overseas Bank (BOM:532388), the Indian lender's chairman M. Narendra told Reuters Thursday.
The banks are Citibank, HSBC (LON:HSBA), Standard Chartered (LON:STAN), JPMorgan (NYSE:JPM), Royal Bank of Scotland (LON:RBS), Barclays (LON:BARC) and Deutsche Bank (FRA:DBK), he said.
The state-controlled lender is looking to issue a Reg S bond, which means the offering will be open to foreign investors outside the US.
Narendra said the bank was not in a hurry to raise capital and would watch the market for the right moment for the issue.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Mar 15, 2012|
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