The Hindu Business Line : IDBI to finalise $300-m bond issue shortly

"We will finalise the arranger in a couple of days. We are in the final stages of working out the modalities," Mr M. Damodaran, Chairman, IDBI Ltd, said here.

The bonds, being issued under the textile sector development scheme, is expected to be priced better than IDBI's previous issue, which was at 150 basis points over the US Treasury, Mr Damodaran said. The previous issue was for the steel sector.

He said the bank received permission for the bond issue last month and the approval is valid up to mid-January.

"We are most likely to do it before Christmas but after Thanksgiving," he said. There was good appetite for Indian paper and there were not many issuers, he added.

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