Indian Bank raises Rs 110 crore through bonds
New Delhi, Nov 7 (PTI) Indian Bank said Wednesday that it has raised Rs 110 crore through bonds.
The Basel III Compliant Tier 2 bonds, with a coupon rate of 8.85 per cent per annum, were raised on Tuesday. The bonds have tenor at 10 years and call option after completion of 5 years on private placement basis, an Indian Bank statement said.
According to the statement, the credit rating assigned to these bonds is "CRISIL AAA/Stable" and "CARE AAA".
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