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Indian Bank raises Rs 560 cr by issuing bonds

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New Delhi: Indian Bank on Monday stated it has raised Rs 560 crore by issuing Basel III compliant bonds on personal placement foundation.

The financial institution on date has additional raised tier 1 capital fund by personal placement of Basel III compliant AT 1 (extra tier 1) perpetual bonds aggregating to Rs 560 crore, Indian Bank stated in a regulatory submitting.

The coupon on the bonds was 8.44 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.

Stock of Indian Bank jumped 11.77 per cent to shut at Rs 95.90 apiece on BSE.




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