Federal Bank raises ₹1,500 crore via infra bonds

Federal Bank.
| Photo Credit: The Hindu

Federal Bank Ltd. said it has raised ₹1,500 crore through its maiden issuance of long-term infrastructure bonds. 

The total issue size was ₹1,500 crore (base issue of ₹750 crore and a greenshoe option to retain oversubscription up to ₹750 crore). “The response has been overwhelming,” the bank said in a statement.

The fund has been raised by way of issue and allotment of the debentures on a private placement basis. The debentures will be listed on the National Stock Exchange, the bank said.