Indian Bank to redeem tier 2 bonds in 2026

Indian Bank has decided to exercise the call option on its outstanding 6.18% Indian Bank Basel III Compliant Tier 2 Bonds Series V, identified by ISIN INE562A08081. This exercise will cover bonds aggregating to Rs. 2000 crore on their first Call Option due date, January 13, 2026. The bank's decision is contingent upon receiving the necessary prior approval from the Reserve Bank of India.

The bonds, originally issued on January 13, 2021, are part of the bank's Tier 2 capital structure. The record date for this call option exercise has been set for December 29, 2025. This move aligns with the terms outlined in the Offer Document/Information Memorandum related to the bond issue.