Investors like HDFC Mutual Fund have bought relatively high yielding bonds sold by some state-owned banks including State Bank of IndiaBSE 1.72 %, Syndicate BankBSE 2.10 %, Union Bank, Uco BankBSE -0.28 % amid falling interest rates.
About Rs 8,000-9000 crore worth of perpetual bonds are hitting the market offering rates mostly in the broad range of 8.39-11% depending on individual credit ratings, dealers said.
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