NDB goes for Rs. 6.5 b BASEL III debentures

Monday, 24 December 2018 01:18 -     - {{hitsCtrl.values.hits}}

NDB plans to raise Rs. 6.5 billion via BASEL III compliant debentures. 

It will issue 50 million five-year BASEL III compliant Tier 2, listed, rated, unsecured, subordinated, redeemable debentures (with a non-viability conversion) at Rs. 100 each with an option to offer a further 15 million of said debentures in the event of an oversubscription of the original amount. 

The issue is subject to regulatory and other approvals.