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Corporate News
28-Nov-17
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South Indian Bank raises Tier 2 Capital aggregating Rs 490 cr
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On 28 November 2017
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The Capital Planning and Infusion Committee of the Board of South Indian Bank has allotted 49,000 numbers of Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds, for Inclusion in Tier 2 Capital of the Bank in the nature of debentures of the face value of Rs. 1,00,000/- (rupees one lakhs) each ('Bonds') at par aggregating Rs.490 crore (Rupees four hundred and ninety crores only) in dematerialized form with interest @ 9.50% per annum payable half yearly for a period of 126 months.
The said Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds shall be listed on BSE.
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