By Sarah Lizee
Olympia, Wash., Nov. 7 – Indian Bank informed the Bombay Stock Exchange that it successfully raised Rs. 1.1 billion of 8.85% Basel 3 compliant tier 2 bonds on Tuesday.
The bonds have a tenor of 10 years with a call option after five years and will be issued via private placement.
As previously reported, the company raised Rs. 2.9 billion of the Basel 3 compliant bonds with a coupon of 8.9% on Oct. 30.
Indian Bank is a state-owned financial services company based in Chennai, India.
| Issuer: | Indian Bank
|
| Issue: | Basel 3 compliant tier 2 bonds
|
| Amount: | Rs. 1.1 billion
|
| Tenor: | 10 years
|
| Coupon: | 8.85%
|
| Call option: | After five years
|
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