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Bank of Baroda to issue 6-month CD - traders

Reuters
FILE PHOTO: A security guard walks on the premises of Bank of Baroda in New Delhi

MUMBAI (Reuters) - India's Bank of Baroda plans to raise funds through a sale of certificates of deposits maturing in six months, three merchant bankers said on Tuesday.

The state-run lender will offer a yield of 7.30% on the issue, and it has received commitments worth around 8 billion rupees ($96.76 million) so far, they said.

The notes are rated A1+ by CRISIL and will mature on Jun. 9.

($1 = 82.6760 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)