The Export-Import Bank of India has appointed Citigroup and Deutsche Bank to sell its five-year bonds in the overseas market.
The bank has already got Reserve Bank of India (RBI) approval for raising $300 million from the overseas market, but the timing and amount of the international bond issue through the foreign banks is yet to be decided, a senior Exim Bank official said from Mumbai.
Exim Bank is considering five-year Euro bonds and has mandated Citigroup and Deutsche Bank as joint lead managers and joint bookrunners for the transaction.
Exim Bank chairman Mr T C Venkat Subramanian said earlier that the bank intends to raise over Rs 1,300 crore ($300 million) through the bond issue.
The issue would be part of Exim Bank's Rs 7,000 crore borrowing programme for this fiscal year, he said, adding this is the first time that Exim Bank is tapping the international bond market.
