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 Money & Banking - Corporate Bonds


IOB raises Rs 200 cr as Tier II bonds

Our Bureau

Chennai , Sept. 16

INDIAN Overseas Bank has raised Rs 200 crore of unsecured redeemable non-convertible subordinated bonds through a private placement on Thursday.

The issue was fully subscribed on the date of opening, according to an IOB press release.

The release said the bonds had 123 months tenure bearing a coupon rate of 7.4 per cent a year payable half yearly.

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