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Tuesday, Mar 09, 2004
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 Money & Banking - Corporate Bonds


IDBI Flexibonds issue for Rs 500 cr

Our Bureau

MUMBAI: IDBI is to tap the market with the Rs 500-crore `IDBI Flexibonds 21' issue.

This third tranche comes under the IDBI Flexibond Umbrella Offer and will remain open for subscription between March 9 and March 29.

The issue has a target amount of Rs 500 crore with a greenshoe option to retain an additional Rs 500 crore. IDBI Flexibonds-21 have been rated `AA+ (Rating Watch with developing implications)' by CRISIL, "AA+(ind) (Outlook on Rating is stable)" by FITCH Ratings and `LAA' by ICRA. These ratings signify high safety with regard to timely payment of interest and repayment of principal.

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