IDBI to raise $1.5 bn via debt

Industrial Development Bank of India (IDBI) today announced the establishment of a $1.5 billion medium term note (MTN) programme.

According to an official release issued by the bank to the BSE today, Barclays Capital and HSBC acted as joint arrangers and dealers on the 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 senior notes, Upper Tier 2 notes and Hybrid Tier 1 notes, under a single documentation platform. This will allow us to quickly take advantage of market opportunities where they arise, increasing our fundraising efficiency,"  said Yogesh Agarwal, CMD, IDBI.