IDFC First Bank plans to issue 3-month CD - traders

IDFC First Bank IDFCFIRSTB plans to raise funds through sale of certificate of deposits maturing in three months, three merchant bankers said on Monday.

The private lender will offer a yield of 7.14% on the issue and has received commitments worth around 15.50 billion rupees ($188.54 million) so far, the bankers said.

The notes are rated A1+ by CRISIL.

($1 = 82.2100 Indian rupees)