IOB to raise Rs 1,200 cr through bonds this fiscal | india | Hindustan Times
Today in New Delhi, India
Nov 22, 2017-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

IOB to raise Rs 1,200 cr through bonds this fiscal

Indian Overseas Bank will raise Rs 1,200 crore by issuing tier-I and tier-II bonds on a Pvt placement basis.

india Updated: May 02, 2006 14:35 IST

Indian Overseas Bank (IOB) will raise Rs 1,200 crore by issuing tier-I and tier-II bonds on a private placement basis for the financial year 2006-07.

The Board of directors has approved issuing of perpetual hybrid tier-I capital bond, upper tier-II subordinated debt and lower tier-II subordinated debt, IOB informed the Bombay Stock Exchange.