IDBI Bank raises USD 350 million from overseas bond sale

Written By Unknown on Selasa, 28 Oktober 2014 | 23.25

Last Friday, Tata Motors had raised USD 750 million in a benchmark dual tranche bond sale, taking the overall fund raising through overseas bond sales close to USD 17 billion so far this year.

After lying low for a while, forex fund rasing by domestic corporates has picked up again with state-run lender  IDBI Bank raising USD 350 million in an overseas bond sale.

Last Friday,  Tata Motors had raised USD 750 million in a benchmark dual tranche bond sale, taking the overall fund raising through overseas bond sales close to USD 17 billion so far this year.

According to a note by international rating agency Fitch, the city-based lender raised USD 350 million in overseas senior unsecured notes through its Dubai branch. Fitch has assigned the senior unsecured notes issue due April 2020 a final rating of BBB-.

IDBI Bank could not be contacted for an official comment.

IDBI Bank stock price

On October 27, 2014, IDBI Bank closed at Rs 68.25, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 116.50 and the 52-week low was Rs 52.95.


The company's trailing 12-month (TTM) EPS was at Rs 5.73 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 11.91. The latest book value of the company is Rs 147.38 per share. At current value, the price-to-book value of the company is 0.46.


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