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IndusInd Bank raises Rs 2,800 crore debt capital through bonds

IndusInd Bank stock traded at Rs 1150.50 apiece on BSE, down 2.12 per cent from previous close.

IndusInd | Bonds | Banking

Press Trust of India  |  New Delhi 

indusind bank

Private sector Bank on Friday said it has raised Rs 2,800 crore by issuing on private placement basis.

The Finance Committee of the board of the bank in its meeting approved allotment of 2,800 rated, listed, non-convertible, subordinated and unsecured Basel III compliant in the nature of debentures towards non-equity regulatory tier 2 capital (T2 bonds) for cash aggregating to Rs 2,800 crore, the bank said in a regulatory filing.

The bonds, set to mature in 10 years, bear a coupon rate of 8.11 per cent payable annually.

The are rated AA+ by Crisil and India Ratings.

Bank stock traded at Rs 1150.50 apiece on BSE, down 2.12 per cent from previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, October 29 2021. 14:25 IST