IDBI raises tire I bonds of Rs. 5,500 cr & HSG & in­fra bonds

Accommodation Times - - Housing Finance -

State- owned IDBI Bank has ap­proved is­suance of ad­di­tional tier I bonds up to Rs 5,500 crore to en­hance cap­i­tal. The bank also ap­proved is­suance of Rs 500 crore long term bonds, with equiv­a­lent green-shoe op­tion to sup­port in­fra­struc­ture and af­ford­able hous­ing. The de­ci­sions were taken at the meet­ing of Board of Di­rec­tors held to­day.

"Is­sue of Basel III com­pli­ant ad­di­tional Tier I bonds upto the el­i­gi­ble limit as stip­u­lated by RBI, in mul­ti­ple tranches in INR and/or FC upto the el­i­gi­ble limit as stip­u­lated by RBI, in mul­ti­ple tranches in INR and/ or FC upto a ru­pee equiv­a­lent amount of Rs 5,500 crore to en­hance Tier I cap­i­tal," it said in a fil­ing to the BSE. "Is­sue of long term bonds for fi­nanc­ing of in­fra­struc­ture and af­ford­able hous­ing to the ex­tent of Rs 500 crore with green-shoe op­tion of Rs 500 crore," it added.

The state sec­tor lender said the fol­low­ing de­ci­sions of the board are sub­ject to gov­ern­ment's

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.