IDBI announces US$ 1.5 billion MTN Programme

Industrial Development Bank of India Ltd (IDBI) on November 14, 2007 has announced the establishment of a US$1.5 billion Medium Term Note Programme ("MTN Programme").

"With our new MTN Programme in place, we will now be able to issue various debt instruments in the international capital markets, including as Senior Notes, Upper Tier 2 notes and Hybrid Tier 1 notes, under a single documentation platform," said Shri. Yogesh Agarwal, CMD, IDBI "This will allow us to quickly take advantage of market opportunities where they arise, increasing our fundraising efficiency."

Barclays Capital and HSBC acted as Joint Arrangers and Dealers on the MTN Programme.

The stock closed the day at Rs.167.20, up by Rs.4.15 or 2.55%. The stock hit an intraday high of Rs.173 and low of Rs.166.

The total traded quantity was 4625396 compared to 2 week average of 4325760.

Source : Equity Bulls

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