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Prospect News home > News index > List of issuers I > Headlines for Indian Overseas Bank > News item
Published on 10/30/2008 in the Prospect News Emerging Markets Daily.

India's Indian Overseas Bank may issue Rs. 11 billion in bonds

By Devika Patel

Knoxville, Tenn., Oct. 30 - Indian Overseas Bank informed the Bombay Stock Exchange that its board of directors has approved plans to issue up to Rs. 11 billion in bonds via a private placement.

The bonds will include up to Rs. 3 billion in Tier I perpetual bonds, up to Rs. 2.9 billion in lower Tier II bonds and up to Rs. 5.1 billion in upper Tier II bonds.

Indian Overseas Bank is a state-run bank based in Chennai, India.


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