New Issue: Indian Overseas Bank places Rs. 8 billion of 10-year 9.24% bonds

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – Indian Overseas Bank allotted Rs. 8 billion of 10-year 9.24% Basel III compliant tier II bonds, according to a Bombay Stock Exchange notice.

The bonds were issued on private placement basis.

Indian Overseas Bank is a lender based in Chennai, India.

Issuer:	Indian Overseas Bank
Issue:	Basel III compliant tier II bonds
Amount:	Rs. 8 billion
Tenor:	10 years
Coupon:	9.24%
Allotment date:	Nov. 3

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