India’s Andhra Bank plans Rs. 10 billion 8.65% 10-year tier 2 bonds

By Susanna Moon

Chicago, June 20 – Andhra Bank notified the Bombay Stock Exchange that it plans up to Rs. 10 billion of 8.65% 10-year unsecured redeemable Basel 3-compliant tier 2 bonds.

The notes are callable after five years, according to the notice.

The issue will open for subscription on June 22 and will close on June 27, with an allotment date of June 27.

The bank is based in Hyderabad, India.

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