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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 over temporary asset liability mismatches. "RBL and BoM are both seeking 5-year funds. They may raise between $300 million to $500 million each. Both these banks have done their road shows and announced the marketing of these bonds. If market conditions are right, they may price as early as this week," said a person aware of the details. RBL has established a $1 billion medium term note (MTN) programme while BoM has activated a $500 million MTN in the last few days, allowing them to tap the overseas market whenever things are conducive. The dollar bonds will be the first bond sale for both these lenders. Spokespersons at both the banks did not reply to separate emails seeking comment. These banks will use the funds to pay off shorter term loans they had taken to provide leverage to their NRI clients which ultimately resulted in total deposits of $127 billion through the FCNR (B) route when the scheme ended on August 31. Two other public sector lenders, UCO Bank and Bank of India (BoI), have also taken board approval for raising $1 billion through separate MTN programmes. But both these lenders are still a little behind as they are yet to gauge investor sentiment for these issues. BoI has announced a non deal roadshow starting in Hong Kong on Wednesday, in preparation for the issue of these bonds. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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