Andhra Bank to raise Rs 320 crore

Andhra Bank plans to raise Rs 320 crore through bonds, according to the Bank’s spokeperson. The State run lender plans to issue lower Tier-II bonds paying a coupon of 8.55 percent. The person told Dow Jones News wires .
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The issue is likely to open next week the person added. Andhra Bank a nationalized bank having operations in more than 100 cities of India.

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