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Indian Banks Eye Huge Bond Sales
5 Mar
Summary
- Bank of India aims to raise 100 billion rupees.
- PNB plans a 20-50 billion-rupee bond issue.
- Robust demand fuels these mega infrastructure bond sales.
Bank of India and Punjab National Bank (PNB) are poised to issue significant infrastructure bonds in the coming weeks, aiming to raise substantial capital before the current financial year ends. Bank of India could secure up to 100 billion rupees, while PNB is considering a raise between 20 and 50 billion rupees.
These planned issuances are prompted by robust demand observed in recent bond sales, particularly from long-term institutional investors. Lenders anticipate a similar investor response to their own offerings.
Overall, the issuance of such bonds by Indian lenders has been lower this financial year compared to the previous one, potentially driving strong investor interest in these upcoming sales as investors look to meet their exposure requirements.
