Andhra Bank issues Tier 2 Bonds aggregating Rs 1000 crore

On 24 October 2017

Andhra Bank has issued Unsecured Fully paid Up Non-convertible Redeemable Basel-III Compliant 7.98% Tier-2 Bonds (Series-D)in the nature of Debentures for an amount of Rs. 1000 crore on private placement basis. The said issue was opened for subscription from 24 October 2017 and closed on 24 October 2017. The Bank has received subscriptions of Rs. 1000 Crores towards the subject bonds issue. The deemed date of allotment was fixed as 24 October 2017.

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