Debt

Debt financing

Indian Bank, Union Bank raise Rs.8,000-Cr via 10-yr infra bonds

Business Standard  

State-owned lenders Indian Bank and Union Bank of India collectively raised INR 8,000 crore through 10-year infrastructure bonds, priced at yields of 7.15-7.16%.The bond issue received multiple bids, including cumulative amounts of INR 3,100 crore at a 7.13% coupon rate, INR 4,100 crore and INR 5,050 crore at 7.14% and 7.15%, respectively, and one bid for INR 5,075 crore. The banks aimed to raise INR 5,000 crore, which included a greenshoe option of INR 3,000 crore.