rnrnThe US$ 91.5 mn of the US$ 250 mn issue carries a minimum two-year tenure linked to the six months LIBOR plus 200 basis points.
rnrnUnlike previous issues, investors had the option of bidding for maturities higher than two years, but within the stipulated interest rate. However, investors had opted for the two-year maturities.
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rnThe bulk of the issue had been subscribed by Citibank, HSBC and Standard Chartered Grindlays. Over two thirds of the funds had been from foreign sources/investors. rn