New Issue: India’s Allahabad Bank places Rs. 6 billion 9.34% perpetual bonds

By Tali Rackner

Minneapolis, Nov. 8 – Allahabad Bank informed the Bombay Stock Exchange that it issued Rs. 6 billion of 9.34% additional tier 1 perpetual bonds, series III, in a private placement.

The Kolkata, India-based bank’s board of directors approved raising up to Rs. 20 billion of additional tier 1 capital through private placements in one or more tranches during fiscal year 2017/2018.

Issuer:	Allahabad Bank
Issue:	Additional tier 1 perpetual bonds, series III
Amount:	Rs. 6 billion
Maturity:	Perpetual
Coupon:	9.34%
Announcement date:	Nov. 8
Distribution:	Private placement

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.