IndusInd Bank to raise $1 bn through MTNs to meet its funding requirements

The bank's CAR as on December 2018 stood at 14.19 per cent against 15.83 per cent at the end of the year-ago December quarter

Private lender IndusInd Bank plans to raise up to $1 billion (about Rs 7,000 crore) through medium term notes (MTNs) to meet its funding requirements. It would also raise up to Rs 3,000 crore thro­ugh Tier I and Tier II bonds.
 
In a meeting on Wednesday, the board approved setting up of a Euro MTN (EMTN) programme of about Rs 7,000 crore. “The EMTN shall provide the bank access to foreign currency funds for meeting its funding requirements,” said the bank in a filing to the exchanges.
 
The funding would be availed through its IFSC unit in Gift