Andhra Bank Plans Rs 140 Crore Bond Issue
Andhra Bank is planning to raise subordinated debt to the extent of Rs 140 crore by privately placing bonds.
The move is aimed at raising its Tier-II capital. The bank has obtained an AA+ (Ind) rating from Fitch Ratings for the proposed issue. The rating means a stable outlook.
The rating agency has also reaffirmed the tAAA (Ind) and F1+ (Ind) ratings for the bank