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Central Bank of India to redeem 30.24B rupees of debt instruments

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Central Bank of India to redeem 30.24B rupees of debt instruments

Central Bank of India plans to conduct a premature buyback of 30.24 billion rupees of Tier 2 bonds and perpetual debt instruments, Financial Express reported Aug. 14.

The bank is looking to complete the buyback for the debt instruments by Sept. 24 and the upper Tier 2 bonds by Oct. 30, according to a bid document. The papers had redemption dates between 2023 and 2026.

As of Aug. 13, US$1 was equivalent to 69.99 Indian rupees.