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Private lender IndusInd Bank on Thursday informed the stock exchanges that its Board has approved the issuance of bonds worth 2,800 crore on a private placement basis.

The bonds will be rated, listed, non-convertible, subordinated and unsecured Basel III compliant in the nature of debentures towards non-equity regulatory tier-2 capital (T2 Bonds) with face value of 1,00,00,000 each for cash, the company said in a filing.

The said issuance is subject to approvals and consent of regulatory authorities as may be required.

The Board has also authorised the finance committee to approve the details of the issuance and to finalize the allotment of securities.

IndusInd Bank stock today fell 0.81% to close at 1,191.95 on NSE.

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