Indian Overseas Bank Gets BSE Listing Approval for Basel III Tier II Bonds Worth INR10 Billion
MT Newswires Live
Jan 28
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.
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