IDBI Bank To Raise $65.5 Mn Through Bonds
IDBI Bank is planning to raise upto $65.5 Mn by issuing perpetual bonds to meet the Tier – I capital requirements of the bank. The bonds will carry a coupon rate of 9.5 – 9.7%.
IDBI Bank raised $225 Mn in Nov’09 through foreign currency loans to expand its business. IDBI raised $225 Mn through syndicate loan programme, which saw participation from 21 banks. IDBI raised the loan for a tenure of one year at an interest rate of 6.2%.
It is also planning to raise another $1.5 Bn through medium term notes programme.
Transaction Reference: DNA
Meanwhile, Pranab Mukherjee has also announced an aid of Rs 16,500 Cr to PSU banks so as to maintain their CAR in Tier - I by March 31, 2011. He also said that the CAR of the banks should be maintained at 8%.
Bank of Maharashtra, Dena Bank, Central Bank of India, Syndicate Bank and UCO Bank are the banks who are falling short of Tier – I capital. Their CAR is in the range of 6-7%.
CAR
| In Rs Cr | IDBI Bank | Bank of Maharashtra |
| Particulars | Amount | Amount |
| Tier - I Capital | 10940.00 | 2281.22 |
| Tier - II Capital | 8167.00 | |
| Total Capital Funds | 19107.00 | 3256.41 |
| Total Risk Weighted Assets | 163449.00 | |
| Tier - I CAR | 6.69% | 6.30% |
| Total CAR | 11.69% | 12.11% |
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KVEZAR VIEW
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | Private Equity | Life Insurance Corporation of India | Dena Bank | 25.49 | Announced |
| 07/02/12 | M&A | Piramal Healthcare Limited | Looking For | - | Planned |
| 02/02/12 | Private Equity | AU Financiers India Private Limited | - | Planned | |
| 01/02/12 | Private Equity | Creador Capital | Cholamandalam Investment and Finance Company Limited | 43.12 | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| IDBI Bank Limited | Government Of India | IDBI Tower WTC Complex, Cuffe Parade |
State Bank of India ICICI Bank Limited The Catholic Syrian Bank Limited Dhanlaxmi Bank Limited Indian Overseas Bank IndusInd Bank Limited |
www.idbi.com |
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