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RBL, BoM eye dollar bonds to refinance FCNR funding

News Snapshot:

Mumbai: RBL Bank and Bank of Maharashtra (BoM) are among those in the final stages of marketing their dollar bonds abroad as lenders, both state-run and private, seek to refinance short-term loans taken to provide leverage to clients investing in foreign currency non-resident (bank), or FCNR (B), deposits.People familiar with the development told ET that the above mentioned lenders are part of at least four banks planning to raise funds from abroad, as they adjust asset-liability positions after the conclusion of the FCNR (B) window,Swapping short-term loans with a tenure matching the FCNR (B) deposits will help the banks tide…

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