Comments
IDBI Bank, on Monday, said it has raised ₹745 crore through the issue of Basel III-compliant Tier 2 bonds. The issue was open for bidding in the Electronic Bidding Platform of BSE on January 31, and allotment to successful bidders closed on February 3.
The LIC-promoted bank, in a statement, said the issue was competitively priced at a coupon of 9.50 per cent per annum payable annually. The issued bonds have maturity of 10 years with call option after the instrument has run for five years and every year thereafter, it added.
The amount mobilised would be counted as part of Tier 2 capital and enhance the capital adequacy of the bank.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.