By Susanna Moon
Chicago, Aug. 30 – IDBI Bank Ltd. plans to issue Rs. 15 billion of 11.09% unsecured subordinated perpetual notes.
The notes will be issued in a private placement and qualify as tier 1 capital and Basel 3 compliant, according to a notice.
IDBI Bank is a public sector bank based in Mumbai.
| Issuer: | IDBI Bank Ltd.
|
| Issue: | Unsecured subordinated notes
|
| Amount: | Rs. 15 billion
|
| Maturity: | Perpetual
|
| Coupon: | 11.09%
|
| Announcement date: | Aug. 30
|
| Ratings: | ICRA: A+/negative
|
| India Ratings: A+/negative
|
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