The Hindu Business Line : Corp Bank raises Rs 300 cr

Corporation Bank informed the Bombay Stock Exchange on Monday that it has raised upper tier-II bonds (Series (I) (1)) for Rs 300 crore. On December 10, the bank had informed the stock exchange that the 15- year bond would pay annual coupon of 10.10 per cent for the first 10 years. It had said that step-up coupon rate of 10.60 per cent would be for the last five years if the call option is not exercised by the bank at the end of the 10th year from the deemed date of allotment. - Our Bureau

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