Financial Daily from THE HINDU group of publications
Saturday, Apr 23, 2005
Financial Daily from THE HINDU group of publications Saturday, Apr 23, 2005 |
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Money & Banking
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Overseas Borrowings Corporation Bank plans to raise $100-m loan Our Bureau
Mumbai , April 22 CORPORATION Bank plans to raise a one-year foreign syndicated loan of $100 million in the coming weeks, a bank official said on Thursday. Citibank has been appointed as the sole arranger for the deal, Corporation Bank's General Manager, Mr M. Narendra, told reporters on the sidelines of a press conference. Last year, the bank had raised $80 million through a similar loan, at a rate of 0.52 per cent over the London Inter-Bank Offer Rate. Mr Narendra said that the rate would likely be lower this year.
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