MUMBAI: India's IDFC Ltd plans to raise at least 2 billion rupees ($36.09 million) via five-year staggered bonds at 9.40 percent, a source with direct knowledge of the deal said on Tuesday.
The bonds have a redemption of 85 percent in the second year and 5 percent each for three years thereafter, the source said.
ICICI Bank is the sole arranger to the deal, the source said.
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