Notice regarding Exercise of Call Option on Bank''s AT1 Bonds Series II (ISIN-INE562A08057) of Rs.1048 crore, Series III (ISIN- INE562A08065) of Rs.560 crore, and Series IV (ISIN-INE562A08073) ....
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Indian Bank has decided to exercise the call option on three of its Basel III-compliant Additional Tier 1 (AT1) perpetual bond series on their first scheduled call dates in December 2025. This covers Series II of Rs. 1,048 crore, Series III of Rs. 560 crore, and Series IV of Rs. 392 crore — all carrying an 8.44% coupon and allotted in December 2020. The exercise of the call option will result in the bank repaying principal along with due interest to bondholders, subject to prior RBI approval. Record dates have been set at 15 calendar days before each payment date (with adjustments for non-business days).
This is a planned, routine redemption on the first call date rather than an unscheduled event, generally a neutral-to-positive signal that the bank has sufficient capital and liquidity to honour these obligations. Shareholders are not directly affected, though Rs. 2,000 crore of capital will be retired from the bank's AT1 stack, which may slightly alter its capital adequacy mix going forward.