Money & Banking

IDBI Bank redeems $350-million worth senior notes

Our Bureau Mumbai | Updated on December 01, 2020 Published on December 01, 2020

Notes issued under the bank’s $5-billion Medium-Term Note programme

IDBI Bank on Tuesday said it has redeemed senior notes, listed on the Singapore Exchange Securities Trading Ltd, aggregating $350 million.

The notes, which were redeemed on November 30, carried a coupon of 4.25 per cent.

According to IDBI Bank’s regulatory filing, the notes were issued under the bank’s $5-billion MTN (Medium Term Note) Programme for an aggregate principal of $350 million together with accrued interest from the last interest payment date.

In its FY20 annual report, the bank said: “During the year, the bank successfully retired long-term FC (foreign currency) borrowings amounting to $370 million comprising bilateral loan of $70 million and Medium-Term Note (MTN) bonds of $300 million.

“As on March 31, 2020, the bank’s total outstanding under the MTN Programme was $700 million.”

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 01, 2020
This article is closed for comments.
Please Email the Editor