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January 22, 2001 		Feedback  
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IDBI raises $100 million through overseas loan

India's largest term lender Industrial Development Bank of India on Monday said that it raised $100 million through a syndicated loan.

The five-year loan was raised at 67.5 basis points over LIBOR, and was arranged by Standard Chartered Bank, Sumitomo Bank and Tokyo-Mitsubishi International, the statement said.

The financial institution said 11 banks from six countries participated in the loan.

Earlier in the month, Reliance raised $37.5 million through a syndicated euro loan which will mature in 2005 at 90 basis points over LIBOR.

Shares of IDBI were up 0.50 per cent at Rs 50.0 from the previous close of Rs 49.75, while the Sensex was up 1.79 per cent at 4269.74 points.

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