%20Bank%20of%20India.%20(280623).jpeg?rect=0%2C53%2C1426%2C749&w=1200&auto=format%2Ccompress&ogImage=true&w=1536&resize=1536,0&ssl=1 "Indian Bank holds 0 million syndicated loan roadshow in Singapore and Taipei")
Bank of India will hold a roadshow for the $400 million syndicated loan in Taipei on January 17 and 20, respectively, the country-owned bank said in an exchange filing.
The bank plans to raise up to $400 million, with a greenshoe option of $100 million.
CTBC Bank Co. Ltd. and Standard Chartered Bank Plc are acting as lead arrangers, underwriters and bookrunning banks.
This is the first dollar syndicated loan by an Indian bank since 2012.
This comes as several corporate and non-banking financial companies are exploring overseas markets for financing.
Earlier this week, Tata Capital raised $400 million through an unsecured bond with a coupon of 5.389% and a maturity of 3.5 years, marking its first overseas bond issuance.
Increasing interest from global investors and reduced appetite for domestic markets has led financial services companies to turn to overseas markets for their funding needs.
External commercial borrowing by Indian companies rose to $2.8 billion in November, significantly higher than $1.14 billion in the same period last year, RBI data showed.
Merchant bankers expect the trend to continue with issuers such as Reliance Industries, PNB Housing Finance, Shriram Finance and Cholamandalam Investment and Finance preparing to borrow offshore bonds in 2025. are.
