IndusInd Bank raises Rs 2,800 crore debt capital via bonds

The Finance Committee of the board of the bank in its meeting approved allotment of 2,800 rated, listed, non-convertible, subordinated and unsecured Basel III compliant bonds in the nature of debentures towards non-equity regulatory tier 2 capital (T2 bonds) for cash aggregating to Rs 2,800 crore, the bank said in a regulatory filing.

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Private sector IndusInd Bank on Friday said it has raised Rs 2,800 crore by issuing bonds on private placement basis.

The Finance Committee of the board of the bank in its meeting approved allotment of 2,800 rated, listed, non-convertible, subordinated and unsecured Basel III compliant bonds in the nature of debentures towards non-equity regulatory tier 2 capital (T2 bonds) for cash aggregating to Rs 2,800 crore, the bank said in a regulatory filing.

The bonds, set to mature in 10 years, bear a coupon rate of 8.11 per cent payable annually. The bonds are rated AA+ by Crisil and India Ratings.