Private sector IndusInd Bank today said that it has raised Rs 420 crore through an issue of bonds.
The bank mobilised on a private placement basis an amount of Rs 420 crore inclusive of green-shoe option, a press release issued here stated.
These bonds were assigned "AA-" rating by CARE Ratings indicating high safety for timely servicing of debt obligation and low credit risk.
An in-principle approval has already been obtained from NSE for listing and trading in these securities, the release said.
The bonds with a face value of Rs 10 lakh each, carry an interest coupon of 9.50 per cent per annum and will be due for redemption after 63 months of issue.
The bond issue has augmented the long-term resources and further strengthened the Capital Adequacy Ratio of the bank, the release said.
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