Indian Overseas Bank has successfully raised Rs 665 crore through Private Placement of Basel III Compliant Tier II Bonds Series IV and allotted 8.60%, 665 bonds having face value of Rs 1 crore. Maturity date of the said bonds will be March 31, 2032.
Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.