South Indian Bank Redeems ₹490 Crore Tier II Bonds and Pays Interest on Call Option
The redemption of ₹490 crore in Tier II bonds is a significant corporate action that affects the bank's capital structure and debt profile, representing a planned debt management activity.
The bank successfully fulfilled its financial obligations by making timely interest payments and fully redeeming its Tier II bonds, demonstrating sound financial management and commitment to its creditors.
The South Indian Bank Limited has announced the timely payment of interest and full redemption of its Non-Convertible, Fully Paid-Up, Unsecured, Basel III Compliant, Tier II Bonds (ISIN INE683A08036) on September 12, 2025. * The bank exercised its Call Option to redeem the bonds, which had an issue size of ₹490 crore. * A total interest amount of ₹13,64,61,693 was paid for the period from May 28, 2025, to September 12, 2025. * The principal amount of ₹490 crore was also paid, resulting in nil outstanding for these bonds. * Each bond had a face value of ₹1,00,000 and carried a coupon rate of 9.50% per annum, payable half-yearly.
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The South Indian Bank Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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