Dena Bank to raise Rs 675 cr from Tier I bonds

New Delhi, July 24: Dena Bank today said its board has approved raising of Rs 675 crore in debt from domestic and international market, for improving Capital to Risk Weighted Assets Ratio (CRAR).

The bank will raise Rs 300 crore from upper Tier II debt instruments and Rs 250 crore from unsecured, non-convertible, redeemable subordinated Tier bonds .

It will raise upto Rs 125 crore from innovative perpetual debt instruments (Tier I).

The timings, quantum and terms and conditions of the Tier I and Tier II capital will be decided at an opportune time, a company statement said.

UNI