Syndicate Bank to raise Rs300 crore from bonds

Syndicate Bank to raise Rs300 crore from bonds

Mumbai: State-run Syndicate Bank has said that it would raise Rs300 crore through bonds to meet capital requirement.

The fund would be raised from Tier II capital through issue of unsecured, non-convertible subordinated debt, Syndicate Bank informed the Bombay Stock Exchange (BSE).

The bond would carry a coupon rate of 8.6% payable annually, it said.

Shares of the bank closed at Rs61.95 at the BSE, down by 0.80% compared to the previous close.

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