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State-run IDBI Bank today said it has raised $500 million (about Rs 2,750 crore) from foreign currency bonds.
The transaction received an overwhelming response and the issue was oversubscribed by nine times, IDBI Bank said in a statement.
The benchmark size $500-million transaction which has just been concluded is one more such successful transaction by the bank this year in the international markets, IDBI Bank Chairman and Managing Director R M Malla said.
The issue was made under the $1.5 billion MTN Programme listed on the Singapore Stock Exchange.
The final coupon was 4.375 per cent (fixed), it said, adding, the transaction attracted interest from a diversified range of foreign investors including asset managers and banks.
Around 68 per cent of the allocation was made to Asian investors, 23 per cent to European investors and 9 per cent to investors in the West Asia, it added.
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