ReutersReuters

ICICI Bank to issue 1-year CD -traders

India's ICICI Bank ICICIBANK plans to raise funds through sale of certificates of deposit maturing in one year, three merchant bankers said on Friday.

The private lender will offer a yield of 7.60% on the issue and has received commitments worth around 10 billion rupees ($121.57 million) so far, the bankers said.

The notes are rated A1+ by ICRA and CARE Ratings.

($1 = 82.2600 Indian rupees)

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