IDFC First Bank update on issue of Basel III Compliance Tier 2 Bonds

28 Jan 2022 , 01:34 AM

IDFC First Bank announced that the duly authorized committee of the Board at its meeting held on 25 January 2022 has approved the Shelf Placement Memorandum for Private Placement of upto 2000 Unsecured Subordinated Rated Listed Non-Convertible Fully Paid-Up Taxable Redeemable Basel III Compliant Tier 2 Bonds in the nature of Debentures denominated in Rupees of a face value of Rs 1 crore each having an aggregate nominal value of upto Rs 2000 crore in one or more tranches Bonds Further within the aforesaid limit of Rs 2000 crore the Committee has approved the First Tranche Placement Memorandum for Private Placement of upto 1500 Bonds with issue size of Rs 1000 crore and a Green Shoe Option to retain oversubscription up to Rs 500 crore having an aggregate nominal value of upto Rs 1500 crore