By Sarah Lizee
Olympia, Wash., Oct. 12 – Andhra Bank notified the Bombay Stock Exchange that it plans to issue Rs. 10 billion of 7.98% unsecured nonconvertible redeemable Basel 3 complaint tier 2 bonds, series D.
The notes mature on Oct. 24, 2027 and are callable after five years, according to a notice.
The issue will open for subscription on Oct. 24 and will close on the same day.
The bank is based in Hyderabad, India.
| Issuer: | Andhra Bank
|
| Issuer: | Unsecured nonconvertible redeemable Basel 3 complaint tier 2 bonds, series D
|
| Amount: | Rs. 10 billion
|
| Maturity: | Oct. 24, 2027
|
| Coupon: | 7.98%
|
| Call option: | After five years
|
| Announcement date: | Oct. 12
|
| Allotment date: | Oct. 24
|
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