Vijaya Bank issues tier-II bonds worth Rs 250 crore

Mumbai, July 18 (UNI) Vijaya Bank has proposed to issue tier-II bonds aggregating Rs 250 crore, shortly for a tenor of 120 months at a coupon rate of 9.25 per cent annually.

Informing the BSE, the bank said the face value of the bond is Rs 10 lakh each. The minimum investment shall be five bonds, or Rs 50 lakh and in multiples of one bond or Rs 10 lakh.

The tentative schedule of the bond opening is July 20, and the closing is on July 27. The bond has been rated with a grade of AA+.

Earliest closing date is as soon as full subscription is received, the bank added.

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