The Federal Bank Limited announced that the Credit investment and Raising Capital Committee of the Bank at its meeting held on June 20, 2019, approved the allotment of 1,000, rated, unsecured, redeemable, non-convertible, Basel III compliant, lower Tier 2 subordinated bond's bearing a face value of INR 1,000,000 each, with an option to retain oversubscription of up to 2,000 unsecured, listed, redeemable Basel III Compliant Tier II bonds having a face value of INR 1,000,000 each aggregating to INR 3,000,000,000 on private placement basis at a coupon of 9.75% per annum payable annually to the investors.