Andhra Bank raises Rs 500 crore

Through private placement of Tier - I Bonds

Andhra Bank has issued 9.20% Unsecured Fully Paid-up Non-Convertible Basel-III Compliant Additional Tier-I Capital Perpetual Debt Bonds (Series-IV) in the nature of Debentures for an amount of Rs. 500 crore on private placement basis. The said issue was opened for subscriptions from 31 October 2017 and closed on 31 October 2017. The bank has received subscriptions of Rs. 500 crore towards the subject bonds issue. The deemed date of allotment was fixed as 31 October 2017.

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