India’s Vijaya Bank plans to issue Rs. 5 billion in tier II bonds

By Tanya Meyer

Chicago, Jan. 12 – Vijaya Bank has announced plans to issue Rs. 5 billion in unsecured, redeemable, Basel III compliant non-convertible tier II bonds, according to a filing with the Bombay Stock Exchange.

The bonds will be issued on a private placement basis.

The bank received ratings of ICRA AA+ (hyb) with stable outlook by ICRA Ltd. and CARE AA+ by CARE Ltd. for the proposed issue of the bonds.

Vijaya Bank is a Bengaluru, India-based medium-sized public sector bank.

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