Federal Bank raises ₹1,500 crore through its inaugural infrastructure bond issuance.
Federal Bank raises ₹1,500 crore through its first-ever issuance of long-term, unsecured infrastructure bonds, with a base issue of ₹750 crore and a greenshoe option for an additional ₹750 crore.
Federal Bank announced it has raised ₹1,500 crore through its inaugural issuance of redeemable, unsecured long-term infrastructure bonds. The total issue comprised a base size of ₹750 crore, with an additional ₹750 crore available through a greenshoe option to accommodate oversubscriptions.
"The response has been overwhelming," the bank stated on November 12, 2024. The bonds were issued via private placement and will be listed on the National Stock Exchange (NSE), in line with SEBI's Listing Obligations and Disclosure Requirements. The bank's Credit, Investment, and Raising Capital Committee approved the bond issuance earlier in the day, aiming to strengthen its capital base and support long-term infrastructure financing.
In related news, the State Bank of India (SBI) is reportedly preparing to issue its third series of 15-year infrastructure bonds by the end of the month, with plans to raise up to ₹10,000 crore to support credit needs in sectors like steel, roads, and renewable energy, according to sources quoted by Reuters.
We hate spam as much as you do
© Hindeez 2024, All Rights Reserved
