The South Indian Bank Limited Issues Unsecured, Redeemable, Non-Convertible, Basel III Compliant, Lower Tier 2 Subordinated Bonds
March 20, 2019 at 03:21 am EDT
The South Indian Bank Limited announced that the Capital Planning and Infusion Committee of Directors of the Bank ('Committee') approved the information memorandum for issuance of rated, unsecured, redeemable, non-convertible, Basel III compliant, lower Tier 2 subordinated bonds bearing a face value of INR 0.1 million each, up to INR 1,500 million with an option to retain an over-subscription aggregating up to INR 1,000 million aggregating to a total issue size of INR 2,500 million on private placement basis.