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25-Oct2017

Andhra Bank raises Rs 1,000 crore on private placement basis

Andhra Bank has issued Unsecured Fully paid Up Non-convertible Redeemable Basel-III Compliant 7.98% Tier-2 Bonds (Series-D) in the nature of Debentures for an amount of Rs 1000 crore on private placement basis.

The said issue was opened for subscription from October 24, 2017 and closed on October 24, 2017. The Bank has received subscriptions of Rs 1000 crore towards the subject bonds issue. The deemed date of allotment was fixed as October 24, 2017.

Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.


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