Monday , October 25 2021

Indian Bank raises Rs 290 crore via bonds

Indian Bank has successfully raised funds worth Rs 290 crore under Basel III Compliant Tier 2 Bonds on October 30, 2018 with a coupon rate of 8.90% p.a., tenor at 10 years and call option after completion of 5 years, on private placement basis. The credit rating agency, CRISIL has assigned ‘AAA/Stable’ rating and CARE has assigned ‘AAA’ rating for the instruments.

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

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