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Andhra Bank to raise Rs 1,000 crore via Basel-compliant bonds

Andhra Bank to raise Rs 1,000 crore via Basel-compliant bonds

Thursday, October 12, 2017, 11:06 PM

Public sector Andhra Bank will issue bonds on a private placement basis to raise up to Rs 1,000 crore, it said today. "We wish to inform that the bank is issuing 7.98 percent unsecured, fully paid up non-convertible redeemable Basel III compliant tier-2 bonds in the nature of debentures of Rs 10 lakh for cash aggregating to Rs 1,000 crore," it said in a regulatory filing.
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