Kotak Mahindra Bank has received an approval for the allotment of 1500 Senior Unsecured, Rated, Listed, Redeemable Long Term Bonds in the nature of Non-Convertible Debentures (NCDs) to the eligible investors at the issue price of Rs 10,00,000 per NCD i.e. at par, at coupon rate of 8.25% p.a. for a tenor of 7 years and 1 month (85 months) aggregating to Rs 150 crore. The Asset Liability Committee, a Committee authorized by the Board of Directors of the Bank, on March 28, 2019, approved the same.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
