South Indian Bank to raise Rs 250 crore through issue of Tier 2 bonds

South Indian Bank announced that the Capital Planning and Infusion Committee of Directors of the Bank on 26 March 2019 has approved the allotment of 25000 Rated, Unsecured, Redeemable, Non-Convertible, Basel III Compliant, Lower Tier 2 Subordinated Bonds in the nature of debentures (the 'NCDs') bearing a face value of Rs.1,00,000 (Rupees One lakh) each, at par to the investors identified by the Committee, aggregating to Rs.250 crore.

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