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IOB raises Rs. 200 cr. through Perpetual bonds

CHENNAI: Indian Overseas Bank (IOB) has raised Rs. 200 crore through the issue of `Perpetual bonds', the second within a span of 45 days. The issue, which opened on May 12, was fully subscribed on May 15, says a bank release. The first issue of Perpetual bonds was made on March 28 for a similar amount. However, the bonds, in the second issue, carry an interest rate of 9.15 per cent against 9.30 per cent for the first issue. The bank has the (call) option to redeem the bonds after ten years, adds the release.

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