State-run Indian Bank on Monday said it has raised ₹5,000 crore through a 10-year, long-term infrastructure bond issue at a coupon rate of 7.15 per cent.
The lender received two bids for a cumulative amount of ₹3,100 crore at 7.13 per cent coupon, two bids each for a cumulative value of ₹4,100 crore and ₹5,050 crore, at a coupon rate of 7.14 per cent and 7.15 per cent, respectively, market sources said.
Additionally, the bank received one bid for a cumulative amount of ₹5,075 crore, market participants added.
The bank planned to raise ₹5,000 crore, including ₹3,000 crore in the greenshoe option.
The bonds have been rated ‘AAA’ with ‘Stable’ outlook by CARE and CRISIL.
Pay in and allotment of the bonds will take place on March 24.
Pay in is the date when investors and the issuer exchange bonds and money.