South Indian Bank raises Rs 200 cr via bonds

Private sector lender South Indian Bank said it has raised Rs 200 crore from bonds to meet capital requirements.

The bank has raised Rs 200 crore by issuing unsecured redeemable non-convertible subordinated Tier-II bonds through private placement route, South Indian Bank said in a filing to the Bombay Stock Exchange.

The bonds have a maturity period of 128 months offering coupon rate of 9.75 per cent per annum, payable semi-annually and the bonds would be allotted on August 20, the filing added.

Shares of South Indian Bank closed at Rs 115.10 on the BSE, down 1.54 per cent from previous close.