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Indian Overseas Bank Hires Banks for Possible Dollar Bond Sale

Indian Overseas Bank hired Barclays Plc, Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co., Royal Bank of Scotland Group Plc and Standard Chartered Plc to manage a possible sale of bonds denominated in dollars, Chairman M. Narendra said today.

The bank may raise as much as $500 million from the sale, Narendra said in a phone interview. “We will look at market feedback before raising money,” he said.

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