IDBI Bank to raise $200 million
Mumbai,Oct 23, PTI:
IDBI Bank plans to raise around $200 million from the Switzerland market under its medium-term foreign debt raising programme.
Medium-term-note (MTN) is a debt instrument through which a corporate house or bank raises capital at cheaper rates from overseas market. Usually, there is a fixed coupon or interest rate that is paid by the issuer to the subscriber of the issue on maturity. Domestic banks are increasingly looking at Switzerland to raise capital as part of their market diversification drive.
