01-01-1970 12:00 AM | Source: Reuters
Axis Bank to issue 5-month CD -traders
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India's Axis Bank plans to raise funds through the sale of certificates of deposit maturing in five months, three merchant bankers said on Thursday.
The private lender will offer a yield of 6.80% on the issue and has received commitments worth around 25 billion Indian rupees ($305.2 million), the bankers said.
The notes are rated A1+ by CRISIL and will mature on Feb. 28. ($1 = 81.9220 Indian rupees)
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