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Board of South Indian Bank approves issue of Tier I bonds up to Rs 500 cr

Capital Market 

At meeting held on 16 January 2020

The Board of South Indian Bank at its meeting held on 16 January 2020 has approved the issuance of unsecured, perpetual, non-convertible, Basel III compliant, Tier I bonds not exceeding Rs.500 crore, in one or more tranches, with or without green shoe option ("Bonds"). The Bonds are being issued on a private placement basis to augment the Bank's Tier I capital, on such terms as the Board or Board approved committee may deem fit, subject to applicable regulatory approvals, if any.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 16 2020. 18:54 IST