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Indian Bank raises Rs 2,000 cr by issuing bonds

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State-owned Indian Bank on Wednesday mentioned it has raised Rs 2,000 crore by issuing Basel-III compliant bonds.

The financial institution has raised tier-2 capital fund via personal placement of Basel-III compliant tier-2 bonds, Indian Bank mentioned in a regulatory submitting.

The coupon on the bonds is 6.18 per cent each year payable yearly.

“The issuance/placement of said bonds has been completed by the bank through BSE-EBP (bond platform),” it added.

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