India’s Dena Bank says raised Rs3 bln via bonds

India’s Dena Bank says raised Rs3 bln via bonds

Mumbai: India’s Dena Bank has raised Rs3 billion by selling lower tier II bonds to meet its future capital adequacy ratio requirements, it said in a statement to the Bombay Stock Exchange (BSE).

“The bonds would pay an annual coupon of 11.20% and would be redeemable after 127 months, from the deemed date of allotment," the statement said.

“The bonds carried a greenshoe option to retain oversubscription, which the bank has exercised," the statement said.

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