Indian Overseas Bank raises $500 million

Indian Overseas Bank has raised US$ 500 Million (2nd and final Tranche) by way of Senior Unsecured Bonds, under Medium Term Note (MTN) Programme of USD 1 Billion on August 13, 2012 through the Bank's Hong Kong branch. The Notes will be issued on August 21, 2012 and will be listed in Singapore Stock Exchange. The same will mature on February 21, 2018. The above bonds have been raised at the coupon rate of 4.625% P.A (Fixed).

The Indian Overseas Bank stock closed the day at Rs.72.30, up by Rs.1.10 or 1.54%. The stock hit an intraday high of Rs.72.70 and low of Rs.71.10.

The total traded quantity was 0.42 lakhs compared to 2 week average of 0.79 lakhs.

Source : Equity Bulls

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