IndusInd Bank said that it is planning to raise Rs 1000 crore by issuing Rated Listed Non-Convertible Perpetual Subordinated Unsecured Basel III Compliant Bonds In the nature of Debentures on private placement basis.
“The company has received an approval for issuance of Rated Listed Non-Convertible Perpetual Subordinated Unsecured Basel III Compliant Bonds in the nature of Debentures towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds) for Face Value of Rs 10 lakh each for cash aggregating to Rs 1000 crore on private placement basis” it said in a filing to the Bombay Stock Exchange.
The board of directors of the bank at its meeting held on March 18 2017 has passed the resolution for the same.
The said Debentures have been rated 'AA / Stable' by CRISIL and 'AA' by India Ratings & Research. The above-mentioned Debentures will be listed on the National Stock Exchange of India.
Meanwhile shares of the Bank closed trading at Rs 1379.6 apiece down 0.38 per cent from the previous close on BSE.