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Coimbatore, March 24

Dena Bank has raised lower Tier II Bonds (Series IX) Capital funds to augment long term resources of the bank and to meet its future capital adequacy ratio requirements in the nature of debentures on private placement basis for an amount of Rs 100 crore plus greenshoe option. The bonds carry a coupon of 9.25 per cent payable annually and are redeemable after 122 months from the deemed date of allotment. The issue was over subscribed by Rs 6 crore aggregating Rs 106 crore. The bank exercised the greenshoe option and retained the oversubscribed amount.

— Our Bureau

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