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IDBI Bank raises Rs 1,500 cr via tier I bonds

Sets coupon at 11.06% in its first AT1 bond issuance, to enhance capital adequacy

Abhijit Lele  |  Mumbai 

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Public sector lender IDBI Bank Limited has raised capital of Rs 1,500 crore through Basel III compliant Additional Tier-1 (AT1) bonds to enhance capital adequacy. The issue opened and closed on August 30, 2016. This is the first AT1 bond issuance by the Bank during FY 2016-17.

Kishor Kharat, Managing Director & CEO, IDBI Bank the issue was competitively priced at a coupon of 11.09 per cent payable annually. It would enhance the capital adequacy of the Bank by about 45 basis points. The Capital Adequacy Ratio (CAR) of bank stood at11.06 per cent at end of June 2016. Out of this ...

First Published: Tue, August 30 2016. 19:10 IST

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