Kerala-based South Indian Bank has notified that it has successfully raised Rs 200 crore from bonds to meet its near term goals.

The raised amount will be used by the bank to meet capital requirements. The lender raised Rs 200 crore by issuing unsecured redeemable non-convertible subordinated Tier-II bonds through private placement route.

The bonds have maturity period of 128 months and offer coupon rate of 9.75% p. a., payable semi-annually. The bonds would be allotted on August 20, 2009.

Credit rating agency CARE and FITCH has given A+ rating to bonds. The issue opened for subscription on August 03, 2009.