Union Bank of India is marketing its planned sale of 5 1/2-year bonds with a spread in the low 300 basis-point range more than similar-maturity Treasuries, according to a person familiar with the matter, who asked not to be identified because the details are private. A basis point is 0.01 percentage point.
Union Bank of India , a state-owned lender, plans to sell 5 1/2-year dollar bonds at a spread of about 315 basis points more than similar-maturity Treasuries, according to two people familiar with the matter.
Following is a table showing certificate of deposits issued by Indian banks. The data has been provided by Derivium Tradition Securities Pvt. Ltd., LKP Securities Limited, NVS Brokerage Ltd and SPA Securities Limited.
Yes Bank Ltd., the best-performing Indian bank stock last year, has lost almost half its market value in less than a month on investors’ concern that a record surge in interest rates will erode profits and boost defaults.
Iran has received $100 million in payments from an Indian refiner through Union Bank of India Ltd. and Istanbul-based Turkiye Halk Bankasi AS, the Press Trust of India reported, citing unidentified sources.
Indian banks are selling Swiss franc-denominated bonds for the first time in 24 years amid increasing European interest in emerging-market debt and after their dollar funding costs rose to a six-month high.