Kotak Mahindra Bank joins peers in tapping dollar debt before RBI window shuts
· economictimes.indiatimes.com
Kotak Mahindra Bank successfully raised $650 million through its five-year dollar bonds. This issuance occurred at a coupon rate 27 basis points below initial guidance. Indian lenders have collectively raised $6.95 billion since June 5. These funds will diversify sources and support general corporate purposes. The Reserve Bank of India's swap facility closes on August 31.
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