Story thread · 2 reports / 2 sources

Four banks line up overseas fund raise

economictimes.indiatimes.com · 5dShare

RBL Bank and Bank of Maharashtra (BoM) are among those in the final stages of marketing their dollar bonds abroad.People familiar with the development told ET that the above mentioned lenders are part of at least four banks planning to raise funds from abroad, as they adjust asset-liability positions after the conclusion of the FCNR (B) window,Swapping short-term loans with a tenure matching the FCNR (B) deposits will help the banks tide over temporary asset liability mismatches.“RBL and BoM are both seeking 5-year funds. They may raise between $300 million to $500 million each. Both these banks have done their road shows and announced the marketing of these bonds. If market conditions are right, they may price as early as this week,” said a person aware of the details.RBL has established a $1 billion medium term note (MTN) programme while BoM has activated a $500 million MTN in the last few days, allowing them to tap the overseas market whenever things are conducive. The dollar bonds

First report: RBL Bank to raise to $1 billion from overseas investors — thehindu.com, 7d