MoneyWorks4Me

Indian Bank raises Rs 600 crore via bonds

23 Jan 2019 Evaluate

Indian Bank has successfully raised Rs 600 crore under Basel III Compliant Tier 2 Bonds on January 22, 2019 with a coupon rate of 8.53% per annum (p.a.), tenor at 10 years with call option after completion of 5 years, on private placement basis. The CRISIL assigned ‘AAA/Stable’ rating and CARE assigned ‘AAA’ rating.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

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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