Industrial Development Bank of India to sell $300 million eurobonds in February

By Paul A. Harris

St. Louis, Jan. 8 - The Industrial Development Bank of India is expected to sell $300 million of eurobonds due 2009 (Ba1/BB) in early February, a market source said.

JP Morgan and Citigroup will be joint bookrunners on the Regulation S offering.

According to a market source proceeds from the bond sale will be used to help restructure the country's steel industry.

Industrial Development Bank of India is a state-run financial institution.

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