Public sector Andhra Bank today said it has raised Rs 500 crore by issuing Basel III compliant bonds on a private placement basis.
"We wish to report the issuance of 9.2 per cent unsecured fully paid-up non-convertible Basel III compliant additional tier I capital perpetual debt bonds in the nature of debentures for an amount of Rs 500 crore on private placement basis," it said in a regulatory filing.
The issue was opened for subscription from October 31 and was closed the same day.
"The bank has received subscription of Rs 500 crore towards the subject bond issue," it added.
Stock of Andhra Bank closed 3.93 per cent up at Rs 68.70 apiece on BSE today.
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