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 Money & Banking - Private Banks


ING Vysya's ECB offering oversubscribed

Our Bureau

Bangalore , Aug. 25

THE ING Vysya Bank's maiden syndicated external commercial borrowing offering was oversubscribed.

The loan was in the nature of a revolving credit facility. This facility allowed customers to borrow a specified maximum amount during a specified period. The bank had approached the markets for a facility of $50 million, but the issue was oversubscribed. Consequently, it has decided to retain $70 million.

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