India’s IndusInd Bank approves Rs. 15 billion long-term debentures

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – IndusInd Bank Ltd.’s board of directors approved on Wednesday the issuance of Rs. 15 billion of senior unsecured redeemable long-term debentures, according to a Bombay Stock Exchange notice.

The debentures have a face value of Rs. 1 million each and will be issued on a private placement basis.

They have been rated AA+ by India Ratings & Research and AA+/Stable by Crisil and will be listed on the National Stock Exchange of India Ltd.

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

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