Tuesday, January 23, 2001
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IDBI raises $100m loan 

Our Banking Bureau  
Mumbai, Jan 22: Industrial Development Bank of India (IDBI) has raised a five-year $100 million syndicated loan facility in the international markets at a pricing of USD Libor 67.5 basis points.

The loan facility was jointly arranged by Standard Chartered Bank, Sumitomo Bank and Tokyo-Mitsubishi International (Hong Kong) Ltd. The facility agreement for the borrowing was signed by IDBI executive director, TM Nagarajan at Hong Kong recently The transaction enjoyed a resounding success with 11 banks from six countries participating in the loan.

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