Vijaya Bank raises Rs 300 crore from upper Tier II bonds

Bangalore, Mar 14 (UNI) Vijaya Bank had successfully raised Rs 300 crore through a private placement of 'Unsecured Redeemable Non Convertible Subordinated Upper Tier II Bonds'.

A relese said here today the issue, which opened on March five, stood fully subscribed.

The amount raised would be used to further augment Tier II capital to strengthen Capital Adequacy Ratio (CAR) and long-term resources of the bank.

Vijaya Bank had a CAR of 12.21 per cent as on December 31 last year, against total business of Rs 71,607 crore.

The bank had targeted a business level of Rs 76,000 crore, by the turn of the financial year, the release added.

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