India’s Federal Bank board will meet Friday to discuss raising funds

By Sarah Lizee

Olympia, Wash., June 16 – Federal Bank Ltd. informed the Bombay Stock Exchange that its board of directors will meet on Friday to consider a proposal to raise funds.

The board will consider issuing additional tier 1 bonds, tier 2 bonds, long-term infrastructure and affordable housing bonds, masala bonds, green bonds, nonconvertible debentures or other debt securities.

The board will also consider issuing foreign currency convertible bonds, Global Depository Receipts or American Depository Receipts.

The commercial bank’s headquarters are in Aluva, India.

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