Andhra Bank has raised Rs. 280 crore of upper tier-II bonds at an annual coupon of 8.70%, which was fully subscribed on the date of opening of the issue. The issue opened on 14 December 2009 and closed on 15 December 2009.
Further, the bank has raised Rs. 320 crore of subordinated debt bonds - lower tier-II bonds. The issue opened on 15 December 2009 and closed on 21 December 2009. The coupon rate was 8.55% payable annually.
Source :www.biginfotech.in
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