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South Indian Bank raises 4.9B rupees via Tier 2 bonds

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South Indian Bank raises 4.9B rupees via Tier 2 bonds

South Indian Bank Ltd. raised 4.90 billion rupees via an offering of Basel III-compliant Tier 2 bonds.

The 126-month bonds were priced with a coupon of 9.50% per year.

The bonds will be listed on the BSE.

As of Nov. 28, US$1 was equivalent to 64.47 Indian rupees.