Date:23/04/2005 URL: http://www.thehindubusinessline.com/2005/04/23/stories/2005042301220600.htm

Back Corporation Bank plans to raise $100-m loan

Our Bureau

Mumbai , April 22

CORPORATION Bank plans to raise a one-year foreign syndicated loan of $100 million in the coming weeks, a bank official said on Thursday.

Citibank has been appointed as the sole arranger for the deal, Corporation Bank's General Manager, Mr M. Narendra, told reporters on the sidelines of a press conference.

Last year, the bank had raised $80 million through a similar loan, at a rate of 0.52 per cent over the London Inter-Bank Offer Rate. Mr Narendra said that the rate would likely be lower this year.