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Prospect News home > News index > List of issuers I > Headlines for Indian Overseas Bank > News item
Published on 5/2/2006 in the Prospect News Emerging Markets Daily.

Indian Overseas Bank to raise up to Rs. 12 billion in debt

By Reshmi Basu

New York, May 2- Chennai-based Indian Overseas Bank said its board of directors has approved a proposal to raise up to Rs. 12 billion of debt via a private placement for the 2006/2007 financial year.

The issuance will be structured as perpetual hybrid tier I capital, upper tier II subordinated debt or lower tier II subordinated debt.

The issuer is a state-run bank.


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