UTI to raise Rs 200cr through Upper Tier II Debentures

New Delhi, Nov 13 (UNI) UTI Bank today said it will raise Rs 200 crore by issue of Upper Tier II Unsecured Redeemable Subordinated Debentures, with an option to retain oversubscription.

The debentures at a face value of Rs 10,00,000 each have been assigned LAA and AA rating by ICRA and Fitch agencies respectively and are entitled for a coupon rate of 9.35 per cent per annum.

The instruments are redemable after 15 years from the deemed date of allotmentand shall be listed on Bombay Stock Exchange Ltd (BSE) and National Stock Exchange Ltd (NSE).

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