Public Company

Andhra Bank raises Rs 600 cr via bonds

Andhra Bank has raised Rs 600 crore by selling bonds in two tranches in current month. - Fund raising by realty focused PEs dips 70% in 2009 - ONGC raises Rs 1,970 cr through bonds - PNB may raise Rs 7,000 cr from bonds - Hindustan Copper to raise Rs 1,700 cr via FPO - Sistema Shyam mulls IPO; rings Mumbai ops - Bajaj Hindusthan to raise Rs 2,000 cr The bank raised Rs 280 crore by issuing upper Tier-II bonds. The annual coupon of for this issue was 8.70 per cent. The issue opened on December 14, 2009 and closed on December 15, 2009. "It was fully subscribed on the date of the opening of the issue," the company said in a notification to the National Stock Exchange. Another Rs 320.00 crore were raised by issuing lower Tier-II bonds. This issue opened on December 15, 2009 and closed on December 21, 2009. The coupon rate was 8.55 per cent payable annually. The book runners for the issue were Andhra Bank Merchant Banking Division, Darashaw & Company, AK Capital Services, Axis Bank and ICICI Bank.

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