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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.”
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