Corporation Bank issues second tranche of issue to raise Rs 200 cr

Mumbai, Mar 19 (UNI) Corporation Bank has issued the second tranche Tier-II Capital Bonds to raise Rs 200 crores through Private Placement of Unsecured, Redeemable Non-Convertible and Non-Cumulative Subordinated Bonds in the nature of Promissory Notes.

The face value of the bonds was Rs one million per Bond with the minimum application size being 10 bonds and multiples of ten bonds.

The issue had a ten year tenor with the coupon rate being 9.3 per cent (fixed).

UNI VK GR VKG1413