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India New Issue-Fedbank Financial Services to issue 7-month CP - traders

Reuters · 11/16/2022 01:32
India New Issue-Fedbank Financial Services to issue 7-month CP - traders

- India's Fedbank Financial Services FEDB.NS plans to raise funds selling commercial papers maturing in seven months, three merchant bankers said on Wednesday.

The -banking finance company, a subsidiary of private lender Federal Bank, will offer a yield of 8.14% on this issue, and has received commitments worth around 1.60 billion Indian rupees ($19.69 million), they said.

The are rated A1+ by CARE Ratings and will mature in June 2023.


($1 = 81.2700 Indian rupees)


(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

((Dharamraj.dhutia@tr.com))