 "IDFC First Bank")
IDFC FIRST Bank on Tuesday raised Rs 1,500 crore through the issuance of Tier-2 bonds in the domestic market, the bank said in a release.
The unsecured and subordinated bonds carry a face value of Rs 1 crore, and were issued through a private placement on the NSE E-bidding platform.
The unsecured Tier-2 bonds have a tenure of 10 years, with a call option at the end of five years. They carry a coupon rate of 8.40 per cent.
Following the capital raise, the bank's capital adequacy, based on the financials as of March 31, 2023, would reach 17.68 per cent. The bank said.
