Dena Bank raises Rs 125 crore Tier I capital
Dena Bank has raised Rs 125 crore by way of hybrid bonds to augment long term resources and to meet its future capital adequacy requirements.
By PTI |
MUMBAI: Dena Bank has raised Rs 125 crore by way of hybrid bonds to augment long term resources and to meet its future capital adequacy requirements.
The bonds issued on a private placement basis carry a coupon of 10.05 per cent payable annually and are perpetual in nature with a call option with the bank exerciable at the end of tenth year, a bank release said here today.
If the call option is not exercised, the coupon would increase by 50 basis points to 10.55 per cent, it said.
The issue opened for subscription on December 20 and closed on the same day.
The bonds issued on a private placement basis carry a coupon of 10.05 per cent payable annually and are perpetual in nature with a call option with the bank exerciable at the end of tenth year, a bank release said here today.
If the call option is not exercised, the coupon would increase by 50 basis points to 10.55 per cent, it said.
The issue opened for subscription on December 20 and closed on the same day.
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