By Tali Rackner
Minneapolis, Oct. 26 – Andhra Bank informed the Bombay Stock Exchange that it plans to issue Rs. 3 billion of 9.2% unsecured nonconvertible redeemable Basel 3 complaint tier 1 bonds, series IV.
There is an overallotment option for Rs. 2 billion, for a total possible amount of Rs. 5 billion, according to a notice.
The perpetual notes are callable after five years.
The issue will open for subscription on Oct. 31 and will close on the same day.
The bank is based in Hyderabad, India.
| Issuer: | Andhra Bank
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| Issuer: | Unsecured nonconvertible redeemable Basel 3 complaint tier 1 bonds, series IV
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| Amount: | Rs. 3 billion
|
| Greenshoe: | Rs. 2 billion
|
| Maturity: | Perpetual
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| Coupon: | 9.2%
|
| Call option: | After five years
|
| Announcement date: | Oct. 26
|
| Allotment date: | Oct. 31
|
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