The South Indian Bank Limited has informed the Exchange regarding 'Intimation under Regulation 60 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
SOUTHBANK · price
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South Indian Bank has decided to exercise the call option on its Basel III compliant Tier 2 Unsecured Bonds (ISIN: INE683A08036), which are listed on BSE. The bonds carry an interest rate of 9.50% per annum, have a total issue size of Rs. 490 crore, and a face value of Rs. 1,00,000 each. The bank will redeem these bonds at par on September 12, 2025, with the record date set as August 28, 2025. The decision was taken by the Board on August 20, 2025, in line with regulatory approvals and the original Information Memorandum.
This is a routine debt repayment by the bank and is largely neutral for equity shareholders. It reflects the bank reducing its Tier 2 capital instruments at par, which is a normal part of capital management and should not materially impact the stock price.