IDBI Bank raises Rs 1,000 cr from bonds to fund infra projects

State-owned IDBI Bank today raised Rs 1,000 crore from bonds on private placement basis to fund infrastructure projects.

IDBI Omni Infrastructure Bonds 2015-16 Series III are unsecured, non-covertible redeemable bonds, the bank said in a statement.

The 10-year bonds will have coupon rate of 8.80 per cent, it added.