Indian Bank raises Rs 392 cr through bonds

Indian Bank on Wednesday said it has raised Rs 392 crore through perpetual bonds. Earlier this month, the bank had raised Rs 560 crore through AT-1 additional tier 1 bonds.

Indian Bank on Wednesday said it has raised Rs 392 crore through perpetual bonds. The bank has further raised tier 1 capital fund through private placement of Basel III compliant AT-1 perpetual bonds aggregating to Rs 392 crore, the public sector bank said in a regulatory filing.

The bonds carry a coupon of 8.44 per cent payable annually, it said. Earlier this month, the bank had raised Rs 560 crore through AT-1 (additional tier 1) bonds.