India’s Indusind Bank to issue infrastructure bonds, nonconvertibles

By Tali Rackner

Norfolk, Va., Feb. 19 – Indusind Bank Ltd. informed the Bombay Stock Exchange that its board of directors met on Jan. 13 and approved the issuance of up to Rs. 20 billion of long-term infrastructure bonds and subordinated nonconvertible debentures/bonds eligible to be included as additional Tier 1 and Tier 2 capital of the bank.

The debentures will be issued on a private placement basis, subject to shareholder approval.

Indusind Bank is a private bank with headquarters in Mumbai, India.

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