Confirmation of Payment of Principal and Interest on Debt Securities (ISIN-INE562A08081) on Call Option Exercise Date
INDIANB · price
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Indian Bank has fully redeemed its Basel III Compliant Tier 2 Bonds Series V (ISIN-INE562A08081) of Rs. 2,000 crore through exercise of the call option on 13 January 2026, five years ahead of the original maturity date of 13 January 2031. Along with the principal, the bank paid annual interest of Rs. 123.60 crore (approximately 6.18% coupon) on the same date, with no delay. After this redemption, the outstanding amount on this bond series is nil.
The early call and full redemption of Rs. 2,000 crore in Tier 2 bonds signals that Indian Bank has chosen to retire this debt ahead of schedule, which modestly reduces future interest outflows but also removes a layer of capital; this is a routine capital management action and unlikely to move the stock significantly.