Corp Bank raises Rs 300 cr Tier-II capital

Mumbai, Mar 24 (UNI) Corporation Bank today raised Rs 300 crore as Tier-II capital through private placement of unsecured redeemable subordinated bonds.

With a face value of Rs 10 lakh per bond, the ten-year bonds will carry an annual coupon rate of 7.9 per cent payable semi-annually.

There was no put-and-call option during the ten year tenure.

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