MoneyWorks4Me

Indian Bank raises Rs 600 crore on private placement basis

29 Jul 2016 Evaluate

Indian Bank has successfully raised further Rs 600 crore under Basel III compliant Tier II Bonds on July 28, 2016 with a coupon of 8.10% per annum for a tenor at 10 years and Call Option after completion of 5 years, on private placement basis. CRISIL has assigned ‘AAA/Negative’ rating, while CARE has assigned ‘AAA’ rating for the said bonds.

Indian Bank offers wide range of services in Personal Banking, Corporate Banking, Mobile banking and Phone banking etc.



Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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