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Andhra Bank to raise Rs 1,000 crore on private placement basis

13 Oct 2017 Evaluate

Andhra Bank will issue bonds on a private placement basis to raise up to Rs 1,000 crore. The bank will issue 7.98% unsecured, fully paid up non-convertible redeemable Basel III compliant tier-2 bonds in the nature of debentures of Rs 10 lakh for cash aggregating to Rs 1,000 crore. The issue will open for subscription on October 24 and will close on the same day.

Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.



Peers
Company Name CMP
State Bank Of India 963.90
PNB 122.25
Bank Of Baroda 237.50
Canara Bank 120.05
Union Bank Of India 181.05
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