Board of South Indian Bank approves issue of Tier I bonds up to Rs 500 cr

At meeting held on 16 January 2020

Jan 16, 2020 01:01 IST capital market

The Board of South Indian Bank at its meeting held on 16 January 2020 has approved the issuance of unsecured, perpetual, non-convertible, Basel III compliant, Tier I bonds not exceeding Rs.500 crore, in one or more tranches, with or without green shoe option (Bonds). The Bonds are being issued on a private placement basis to augment the Banks Tier I capital, on such terms as the Board or Board approved committee may deem fit, subject to applicable regulatory approvals, if any.

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