Published on 10/2/2006 in the Prospect News Emerging Markets Daily.
New Issue: India's Allahabad Bank sells Rs. 600 million of tier II bonds at 8.85%
By Reshmi Basu
New York, Oct. 2 - Allahabad Bank said it sold Rs. 600 million of tier II bonds at par to yield 8.85% via a private placement.
The issuance will be structured as unsecured redeemable bonds.
Meanwhile the bank received orders from 37 investors.
Allahabad Bank is a public sector bank with headquarters in Kolkata, India.
| Issuer: | Allahabad Bank
|
| Amount: | Rs. 600 million
|
| Issue: | Unsecured, redeemable, non-convertible, taxable subordinated bonds
|
| Maturity: | 2016
|
| Coupon: | 8.85%
|
| Issue price: | Par
|
| Yield: | 8.85%
|
| Pricing date: | Sept. 29
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
