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Corporate News
26-Mar-19
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South Indian Bank to raise Rs 250 crore through issue of Tier 2 bonds
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South Indian Bank announced that the Capital Planning and Infusion Committee of Directors of the Bank on 26 March 2019 has approved the allotment of 25000 Rated, Unsecured, Redeemable, Non-Convertible, Basel III Compliant, Lower Tier 2 Subordinated Bonds in the nature of debentures (the 'NCDs') bearing a face value of Rs.1,00,000 (Rupees One lakh) each, at par to the investors identified by the Committee, aggregating to Rs.250 crore.
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