IDBI Bank announces repayment of 11.5 pct SLR Bonds

IDBI Bank announced the repayment of its 11.5 per cent SLR Bonds, 2009 on September 26, 2009.

No interest will accrue on the bonds after September 25,2009 and the book closure of the 54th series will be observed with effect from August 26,2009, a bank press release said.

Investors holding the bonds in the form of promissory notes may tender the bonds at the concerned branch before September 7, 2009, the release said.

Investors, having investment in the form of Entry-in-Account with IDBI Bank should furnish a receipt in the prescribed form along with the relevant certificate of holding, it said.

For investors holding bonds in demat form, the bonds will automatically be debited and the redemption proceeds will be submitted to them, the release said.