IDBI Bank Plans To Meet USD Bond Investors In July 26 Week - Sources

20th Jul 2010 12:41

MUMBAI (Dow Jones)--India's IDBI Bank (500116.BY) plans to meet potential investors in its U.S. dollar denominated bond program next week, three bankers involved in the matter said Tuesday, amid speculation that the bank may soon launch an issue. IDBI will hold a series of meetings with investors in Singapore, Hong Kong and London, they told Dow Jones Newswires, asking not to be named. Barclays, BNP Paribas, HSBC, Royal Bank of Scotland and Standard Chartered Bank would be joint lead managers for any potential issue, the people said. The state-run bank had planned to raise up to $350 million through its medium-term note program, a person familiar with the matter said in early February. But the bank was subsequently forced to put the plan on hold as euro zone debt concerns hit demand for Indian paper in the international market. -By Bijou George, Dow Jones Newswires; +91-22-6145-6111; [email protected] (END) Dow Jones Newswires July 20, 2010 07:41 ET (11:41 GMT)