Indian Overseas Bank (NSE:IOB, BOM:532388) has received listing approval from BSE for its Basel III-compliant Tier II bonds aggregating 10 billion Indian rupees, according to an Indian bourse filing on Tuesday.

The issue comprised a base size of 5 billion rupees with a green-shoe option of 5 billion rupees.

The non-convertible, unsecured, subordinated, taxable bonds, carrying a coupon of 7.80% per annum, were issued on a private placement basis to 15 investors.

The issue opened and closed on Jan. 22, with a deemed date of allotment on Jan. 23.

Shares of the lender were up nearly 1% in Wednesday's trade.