IDBI Bank withdraws issue of Basel III Compliant Tier 2 Bonds for Rs 1000 cr

IDBI Bank withdraws issue of Basel III Compliant Tier 2 Bonds for Rs 1000 cr

Mar 28, 2020 06:03 IST capital market

IDBI Bank announced that pursuant to the sudden RBI Policy Rate cut, CRR cut, liquidity support and other measures announced on 27 March 2020 causing significant fall in interest rates in the market, the Bank has withdrawn the issue of Basel III Compliant Tier 2 Bonds for aggregate issue size of Rs.1 000 crore, with a base size of Rs.500 crore and a Green Shoe option to retain oversubscription up to Rs.500 crore.

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