Debt Debt financing
IOB plans $500-M fundraise via ECBs
Source Indian Overseas Bank (opens in a new tab)Economic Times (opens in a new tab)
Chennai-based public sector lender Indian Overseas Bank plans to raise USD 500 million through external commercial borrowing (ECB) in two equal tranches by the end of December.The bank plans to execute the fundraising in a staggered manner to optimise costs. The first tranche of USD 250 million is expected to be raised at an interest rate between 6% and 6.25% within the coming weeks.