IDBI Bank has raised Rs 1,000 crore from bonds on private placement basis to fund infrastructure projects. IDBI Omni Infrastructure Bonds 2015-16 Series III are unsecured, non-convertible redeemable bonds. The 10-year bonds will have coupon rate of 8.80 percent per annum.
The bonds will be listed on wholesale markets of Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The tenor of the bond is for 10 years and date of redemption is February 09, 2026. The bond has received rating of ‘AA+’ with stable outlook by India Ratings; ‘AA+’ rating with negative outlook by ICRA and ‘AA+’ with negative outlook by CRISIL.
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