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Andhra Bank raises Rs 500 crore on private placement basis

Andhra Bank has raised Rs 500 crore by issuing Basel III-compliant bonds on a private placement basis. The bank has issued 9.2% unsecured fully paid-up non-convertible Basel III compliant additional tier I capital perpetual debt bonds in the nature of debentures for an amount of Rs 500 crore on private placement basis. The issue was opened for subscription from October 31 and was closed the same day.

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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