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IDBI Bank issues 10B rupees of perpetual bonds

IDBI Bank Ltd. issued 10 billion Indian rupees of Additional Tier 1 nonconvertible perpetual bonds in a private placement.

The Basel III-compliant unsecured subordinated bonds have a coupon rate of 10.95% per year, according to a Jan. 20 release.

As of Jan. 20, US$1 was equivalent to 68.06 Indian rupees.