RBL Bank to raise up to USD 100 mn through bonds

RBL Bank on Friday said its board has approved to raise up to USD 100 million by issuing US dollar denominated bonds.

The board of directors of RBL Bank, at its meeting held on Friday, accorded its approval to raise or borrow monies by issue of USD denominated unsecured Tier II subordinated notes aggregating up to USD 100 million, to identified investors, the bank said in a regulatory filing.

At current exchange rate, USD 100 million is around Rs 765 crore.

The stock of RBL Bank closed 0.66 per cent down at Rs 120.10 apiece on BSE.